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.
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