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Forte Energy granted halt pending financing arrangements

Last updated: 09:40 14 Oct 2014 AEDT, First published: 08:40 14 Oct 2014 AEDT

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Forte Energy (ASX:FTE, LON:FTE) has been granted a trading halt by the ASX pending an announcement on financing arrangements.

At the beginning of this month, the firm revealed it had completed the acquisition of a half share in two Slovakian projects owned currently by European Uranium.

Forte paid C$500,000 cash for the 50% stakes in Ludovika Energy and Ludovika Mining, the EUU subsidiaries that hold the mineral licences for the Kuriskova and Novoveska Huta uranium projects.

Forte Energy has to spend a minimum C$350,000 a year on the properties over the next ten years to retain its interest.

The halt will remain in place until the opening of trade on Wednesday 15th October 2014, or earlier if an announcement is made to the market.

 

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