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Metals Finance in halt pending "significant corporate transaction"

Metals Finance in halt pending "significant corporate transaction"

Metals Finance's (ASX:MFC) shares have been placed in a trading halt to allow time to prepare an announcement in relation to a "significant corporate transaction".

The trading halt is to last until the earlier of the company releasing an announcement or the commencement of trade on 6th March 2014.

In the most recent quarterly, the company stated that it had reviewed several alternate investment opportunities and conducted the appropriate due diligence.

Given the recent spate of microcap stocks moving into the technology sector, there is speculation that the transaction may be related to a tech-related acquisition.

MFC is currently a major shareholder in Bass Metals (ASX:BSM), and is currently capped at around $1.5 million.

 

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