Sign up Australia
Proactive Investors - Run By Investors For Investors

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.
ASX logo on a laptop
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.

View full HDY profile View Profile

Hardey Resources Ltd Timeline

Related Articles

map of australia with project locations marked
October 09 2018
The East Pilbara projects are prospective for conglomerate-hosted gold.
Looking over a report
October 24 2018
The study predicted a 32-year mine life and featured a 42.8% internal rate of return.
1538619581_nae-redmoor-map-757.jpg
October 04 2018
The results highlight the potential to increase both tonnage and grade of Redmoor’s inferred resource of 4.5 million tonnes at 1% tin equivalent.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use