Breakaway Resources (ASX: BRW) has been granted a trading halt pending a proposed capital raising announcement, with the company's shares placed in pre-open.
Breakaway has not yet indicated where the potential capital injection will be allocated, but the company currently has some very interesting projects underway.
Currently Breakaway's partner BHP Billiton (ASX: BHP) is drilling a three hole diamond program for 2000 metres to test depth extensions at the Altia silver-lead-zinc joint venture, which is located just 100 kilometres from the 'big Australian's' Cannington mine.
Previous drilling has highlighted the potential for a large-scale silver deposit at Altia with strengthening silver grades – including an intersection of 19 metres at 286g/t silver (down hole width) – occurring at depth and to the south of the current resource.
The trading halt will be in effect until the earlier of the announcement being made to the market or the commencement of trade on Wednesday 9 November.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/21651/breakaway-resources-in-pre-open-pending-capital-raising-announcement-21651.html
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