Sipa Resources (ASX:SRI) is currently finalising a placement and share purchase plan.
The ASX has granted the company a trading halt, with its shares placed in pre-open.
Sipa shares have more than doubled in the past three months, and closed at $0.083 before the halt.
The halt will remain in place until the earlier of trade opening on Wednesday 6th May 2015, or when an announcement is made to the market.
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