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Meridien Resources in pre open pending an announcement on a transaction

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Meridien Resources (ASX: MRJ) has been granted a trading halt pending the release of an announcement regarding a significant transaction, with the company’s shares placed in pre-open.

While no further details of the transaction were disclosed, Meridien is focused on gold exploration in New South Wales.

The company recently signed a mining operation agreement with Developed Resources to progress the Lucky Draw Tailings Project at Burraga, west of Sydney.

Meridien said at the time it intends to use the proceeds generated from the project to further develop the company’s current portfolio of assets and also continue to look for additional, more advanced gold projects.

The trading halt will be in effect until an announcement is made to the market or no later than the start of trading on Wednesday 18 January 2012.

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Price: 0.25 AUD

ASX:TGM
Market: ASX
Market Cap: $113.6 m
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