The trading halt was granted by the ASX and will remain in place until the earlier of the start of trading on Wednesday 28 February 2018 or when an announcement is made.
Keen recent interest in company
Before the halt was granted less than an hour after the opening, shares surged almost 19% to $0.057 on strong volume of more than 21 million.
Strong news flow from Speewah and the Mt Remarkable Gold Project has sparked keen market interest in King River Copper with shares reaching a 12-month high of $0.059 in late January.
The company recently revealed an upgraded resource of 27.2 million tonnes at 9.5% fluorite for the Windsor Fluorite deposit within the Speewah project.
Within this resource is a high-grade indicated and inferred resource of 6.7 million tonnes at 24.6% fluorite.
The company is planning to complete a scoping study into the feasibility of producing acid grade fluorspar from the Windsor fluorite deposit.
Acid grade fluorspar is a high-value product sold as a concentrate and used to manufacture hydrofluoric acid, fluorocarbon chemicals, foam blowing agents, refrigerants and for petroleum refining.
Acid grade fluorspar prices have increased recently to USD$480-520 per tonne for 97% fluorspar wet filter cake.
The company recently concluded a placement of shares to professional and sophisticated investors to raise $1.2 million.
In late 2017, a strike extension was revealed at the Mt Remarkable project.
Drilling assays have extended the main Trudi vein system to a potential strike length of nearly 1 kilometre.