Fitzroy Resources (ASX: FRY) shares have been placed in pre-open after it was granted an ASX trading halt relating to its option to acquire U.S.-based Premier Coking Coal Limited.
The halt will last until the earlier of the announcement being made or the start of trading on Tuesday, 12 November 2013.
Premier is a privately owned, US registered company that holds an option to acquire the Emmaus project on the border of McDowell and Wyoming counties in West Virginia.
This covers about 4,700 acres of known hard coking coal territory in the Appalachian Basin.
Emmaus was last mined in the late 1990s by Virginia Crews, producing mid-volatile, hard coking coal.
Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.