Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Black Fire Minerals in pre-open pending capital raising announcement

Black Fire Minerals (ASX: BFE) has been granted a trading halt by the ASX pending the release of a proposed capital raising, with the company's shares placed in pre-open.

Black Fire has not yet indicated where the potential capital injection will be allocated, but the company is in a very interesting position.

Earlier in the week the company updated the market on the Longonjo Project, which covers 3670 square kilometres in the south central part of Angola.

Exploration activities to date have highlighted the potential for rare earths, copper, gold and iron mineralisation.

The halt will last until the earlier of the announcement being made to the market, or the opening of trade on Tuesday 29 November.