Australian Mines Ltd (ASX:AUZ) has had a meteoric share rise over the past month, last trading at $0.097, or five times higher than just one month ago.
The valuation hit a high of $0.13.
The company has been granted a trading halt by the ASX this morning, pending details of a share placement to institutional investors in the United Kingdom, Hong Kong and Australia.
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The halt will remain in place until the opening of trade on Monday 6th November 2017, or earlier if an announcement is made to the market.