Stirling Resources in trading halt9-February-09 by Rebecca...

Stirling Resources in trading halt
9-February-09 by Rebecca Lawson
Shares in the Michael Kiernan-led Stirling Resources have been placed in a trading halt pending an acquisition announcement, speculated to be one of Mr Kiernan's former companies.

In an announcement today, the company said it expects the halt to discontinue on Wednesday.

Shares in Stirling last traded at 1.9 cents.

Last week, Mr Kiernan teamed up with old business partner DECOmetal GmbH - a partnership stemming from Mr Kiernan's Consolidated Minerals days - which provided $2.6 million to Stirling through a convertible notes issue.

The two companies will also team up to develop Australian resource opportunities.

Additionally, Mr Kiernan was appointed to the board of Australian Zircon as a non-executive director, a company of which DECOmetal is a major shareholder.

It has been speculated that Stirling, with the backing of DECOmetal, could make a bid for Mr Kiernan's Monarch Gold Mining, which fell into administration early last year.

Also on the acquisition cards is Matilda Minerals, which has also been placed into administration in October last year after suffering heavy impairment losses and write-downs.