Highfield Resources Ltd (ASX:HFR) (FRA:23H) has been granted a trading halt by ASX with an announcement pending on the status of the Mining Concession for the Muga Potash Project in Spain.
The halt will remain in place until the start of regular trading on Tuesday, July 6, or until an announcement is released to the market, whichever occurs earliest.
Shares last traded at A$0.745 while the company’s market cap is approximately A$245.6 million.
Permitting progress
In its most recent update to the market in May, the company said it was continuing to make progress with the permitting process.
The company had been advised that mining authorities of Madrid, Aragón and Navarra were satisfied with the Mining Concession documentation submitted for the project.
Accordingly, the company was advised that the final Mining Concession text had been sent to the government’s lawyer for a final legal review.
Final permitting step
With engineering and design work ready, Highfield understands that this is the final step before the potential granting of the Mining Concession which will enable construction of the low-cost, low-capex project to begin.