The trading halt will remain in place until the beginning of trade on Friday, September 20, or when an announcement is made to the market, whichever occurs earliest.
Shares last traded at 10.5 cents.
Multi-pit gold mine
Earlier this month the company defined a combined gold exploration target of 19–30 million tonnes at 1.7–3.4 g/t gold for its Cloncurry gold tenements in northwest Queensland, including on granted mining leases.
The exploration target highlights the potential for Ausmex to develop a multi-pit gold mining hub at Cloncurry, targeting ore processing through third party carbon-in-pulp processing facilities.
Mt Freda Complex MLA
In August the company submitted a Mining Lease application (MLA) for the Golden Mile high-grade gold project at the Mt Freda Complex in northwest Queensland.
The 225-hectare MLA is for mining as Ausmex has the option to process ore from Golden Mile off-site at the Great Australia 600,000 tonnes per annum gold CIP processing facility in Cloncurry.