Celamin Holdings (ASX: CNL) has been granted a trading halt by the ASX pending the release of an announcement to the market in relation to completion of a Pre-Feasibility Study, with the company's shares placed in pre-open.
The study is on the Bir El Afou Phosphate Project in Northern Tunisia, which has a conceptual target of 80 to 120 million tonnes at 17% to 22% phosphate.
A number of investors have been active in Celamin with institutions having already acquired some significant stakes, highlighted by Commonwealth Bank (ASX: CBA) recently boosting its stake to over 6%. While Lion Selection Group (NSX: LGP) now holds 14.6% - after increasing its interest several times in 2011.
The halt will last until the earlier of the announcement being made to the market, or the open of trade on Friday 4 November.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/21472/celamin-holdings-in-pre-open-pending-pre-feasibility-study-announcement-21472.html
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