The halt will remain in place until the beginning of trade on Wednesday, September 30, or when an announcement is released to the market, whichever occurs earliest.
Shares in the company last traded at 5.8 cents up from 5 cents at the market close on September 9.
Marvel Gold recently signed an agreement with Oklo Resources Limited (ASX:OKU) to acquire an 80% interest in Oklo’s three South Mali gold projects covering 675 square kilometres of highly prospective Birimian Greenstone terrain.
New gold focus
The company, which recently changed its name from Graphex Mining to reflect its new gold focus, believes that the location and size of the three new projects will provide further opportunity for gold discoveries.
These projects will enhance Marvel’s existing primary exploration project Tabakorole along with the other project at Lakanfla.
London-based financial boutique Tamesis Partners believes the geological optionality in Marvel’s portfolio is highly attractive and that the market has not yet had the chance to fully respond to this fresh equity story.