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Hardey Resources granted trading halt ahead of Nelly Vanadium Project report

The ASX-granted halt will remain until the start of trading on Wednesday or when an announcement is released.
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Hardey is focusing on vanadium projects in Argentina and Australia

Hardey Resources Ltd (ASX:HDY) is expecting news regarding finalisation of an SRK report on the Nelly Vanadium Project in Argentina and has been granted a trading halt by the ASX.

The halt will remain in place until the earlier of the start of normal trading on Wednesday, August 29, 2018, or when the announcement is released to the market.

READ: Hardey Resources shareholders approve vanadium acquisitions

Prior to the halt being granted this morning, Hardey released an announcement stating that its shareholders have approved the acquisition of two vanadium private companies.

The company will now proceed with the acquisition of Nelly Vanadium Pty Ltd (NVPL) and Vanadium Mining Pty Ltd (VanMin).

Plan to reactivate Nelly project

NVPL owns the highly prospective Nelly Vanadium Mine in the San Luis province of Argentina while

VanMin owns six high-quality vanadium projects across Queensland and Northern Territory.

Hardey’s geology team in Argentina is progressing the application to reactivate the mining licence for Nelly and studying the process to monetise the legacy stockpiles to generate near-term cash flow.

READ: Hardey Resources parking in the right vanadium neighbourhood of Northern Territory

In Australia, the focus for the projects is to utilise historical data, if possible, to model JORC-compliant vanadium pentoxide resources.

Hardey’s shares traded at 0.6 cents prior to the halt.

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