The trading halt will remain in place until the beginning of trade on Thursday, October 24, or when an announcement is made to market, whichever occurs earliest.
Shares last traded at 18 cents after reaching a new 12-month high of 25.5 cents in early September.
Mt Alexander drilling
On October 21 the company received drilling results from two significant holes at the Investigators and Stricklands prospects within the Mt Alexander project in Western Australia.
Hole MAD166 at Investigators was a 100-metre step-out hole and intersected thick nickel-copper-sulphides along strike.
This ‘significantly’ increased the strike of high-grade mineralisation at Investigators East, which still remains open in the north-northwest down-dip direction.
Speculative buy recommendation
Earlier this month St George also discovered significant nickel-copper-sulphide mineralisation at the Radar prospect within Mt Alexander.
The company reported a stand-out intersection from the first drilled hole, with 6 metres grading 2.14% nickel, 0.74% copper and 1.62 g/t platinum group elements (PGEs) from 46 metres.
Argonaut Securities maintained a Speculative Buy recommendation for the company in its latest research update.