Radar Iron in pre open ahead of capital raising announcement

Radar Iron has been granted a trading halt today as it prepares to release an announcement tobuy copper ore crusher for sale the market regarding a capital raising, with the company placed in pre-open.

While no further details were released, Radar is heading towards Feasibility Studies for the Muldoon Prospect, part of the Johnston Range Iron Ore Project, with the recent delivery of a maiden JORC Resource.

The delivery of the maiden 2.1 million tonnes at 57.6% iron JORC Resource for Muldoon is the first in a series of increased resource steps Radar plans to take.

The company is targeting the definition of 5 to 10 million tonnes by the end of the year, at which point Radar will assess Feasibility Studies with a view to mining in 2014.

The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Wednesday 6 June.