The halt will be in place until the beginning of trade on Tuesday, June 18, 2019, or when an announcement is made to the market, whichever occurs earliest.
Shares in the Mongolian focused copper-gold explorer last traded at 6.1 cents.
The company’s managing director and CEO Andrew Stuart spoke at Proactive’s CEO Sessions in Melbourne and Sydney last month about the annual copper shortage of up to 10 million tonnes which is forecast by 2027.
He said the company was well placed to help meet this shortage with its Kharmagtai project in southern Mongolia “marching towards” being a tier-1 discovery.
Ongoing drilling is returning broad, high-grade results which look certain to add to the existing resource.
The project already has an open cut resource estimate of 598 million tonnes containing 1.9 million tonnes of copper and 4.3 million ounces of gold.
Within this is a shallow open pittable high-grade resource of 54 million tonnes at 0.86% copper equivalent for 317,000 tonnes of copper and 1.13 million ounces of gold.