Johannesburg - Australia-based Tawana Resources, which mines in Liberia, has asked the JSE to suspend trading in its shares.
This, it says in a statement issued on Wednesday, is pending an “announcement relating to an acquisition”.
Tawana did not provide any further information about an acquisition.
The dual-listed company adds securities should remain in pre-open - effectively halted - until trade starts on Friday.
Its principal project is in Liberia, West Africa. Tawana’s 100%-owned Mofe Creek project is a new discovery in the heart of Liberia’s historic iron ore district, located 20km from the coast and 85km from the country’s capital city and major port, Monrovia.
Read also: Tawana discovers ‘game changer’
The loss-making company is investing heavily in exploration projects and spends more cash than it pulls in, which is typical for miners at this stage of their cycle.
In May, the company said it was embarking on a rights offer to raise $1.1 million, 30 percent of which will be spent on maintaining its Mofe Creek Project.
The company’s shares were flat at 42c by mid-morning on the JSE.
IOL