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Goldphyre Resources Ltd's (ASX:GPH) shares are in pre-open this morning, following the ASX granting the company a trading halt. Goldphyre requested the halt pending details regarding the underwriting of the listed options series GPHO, which are exercisable at $0.08 and expire on 30 September 2016. Shares in the company last traded at $0.098, and recently hit $0.14 per share. The halt will remain in place until the opening of trade on Thursday 25th August 2016, or earlier if an announcement is made to the market.
Goldphyre Resources Ltd (ASX:GPH) has been granted a trading halt by the ASX, pending an update on a JORC Resource. Goldphyre recently received the final assays from the Lake Wells Potash Project, located in Western Australia. The company has previously outlined that it expected to deliver a JORC Resource in June 2016. The halt will remain in place until the opening of trade on Wednesday 29th June 2016, or earlier if an announcement is made to the market.
Goldphyre Resources Ltd (ASX:GPH) aims to supply sulphate of potash (SOP) into the domestic market where Australia currently imports 100% of its potassium fertiliser requirements. An exploration target has been estimated at its Lake Wells Potash Project in Western Australia which provides a basis for its objective of producing 75,000 - 100,000 tonne-a-year sulphate of potash (brine). Lake Wells has been identified as a high-grade SOP brine salt lake, confirmed both at the salt lake surface and at depth.