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Diatreme Resources negotiates a placement

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Diatreme Resources (ASX:DRX) is currently negotiating a capital raising via a placement, with the ASX granting the company a trading halt.

The company is focussed on the Cyclone Zircon Deposit in Western Australia  through a joint venture arrangement.

Last month the Cyclone Project Mining Lease (ML69/141) granted by Western Australia’s Department of Mines and Petroleum.

The Mining Lease followed signing of Project Agreement with traditional owners, the Spinifex People, as Diatreme pushes forward with de-risking activities.

The halt will remain in place until the opening of trade on Thursday 4th December 2014, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Diatreme Resources Ltd

Price: 0.008 AUD

ASX:DRX
Market: ASX
Market Cap: $14.84 m
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