Metal Bank (ASX: MBK) has been granted a trading halt by the ASX today as it prepares to release an announcement regarding an acquisition.
While no further details were released on the potential acquisition, the company has previously said it remains committed to identifying a new project with the potential to be a “company maker”.
Metal Bank’s key project is the Spinifex Ridge East molybdenum, copper, iron and gold project, which lies adjacent to Moly Mines’ (ASX: MOL) molybdenum-copper project in the highly prospective Pilbara region of Western Australia.
The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Wednesday 9 May.
MOL Price at posting:
14.0¢ Sentiment: LT Buy Disclosure: Held
