Ngualla currently boasts the fifth largest rare earth resource, and the highest grade of the seven largest deposits outside of China.
At present, the project hosts a resource of 170 million tonnes at 2.24% REO. The total resource includes a higher grade, near surface zone of 40 million tonnes at 4.07% REO for 1.6 million tonnes of contained REO.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Thursday 4th April 2013.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.