Alkane Resources Ltd (ASX:ALK) has been granted a trading halt by the ASX this morning, pending a product marketing update for the Dubbo Zirconia Project (DZP).
The DZP is located 400 kilometres northwest of Sydney and is a large polymetallic resources containing zirconium, hafnium, niobium, yttrium and rare earths.
The project has reserves to support a 35 year mine life and it has a net present value (NPV) of US$0.92 billion and 17.5% internal rate of return (IRR).
The DZP is now construction ready with financing currently in progress with production anticipated to commence in 2018.
The halt will remain in place until the opening of trade on Wednesday 17th August 2016, or earlier if an announcement is made to the market.
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