9th Oct 2014 07:45
LONDON (Alliance News) - Ferrum Crescent Ltd Thursday said it had voluntarily asked for its securities traded on the Australian Securities Exchange to be suspended, pending an announcement about its proposed capital raising.
The company's shares on the AIM market in London will keep trading, and were up 4.8% at 0.550 pence early Thursday.
The South Africa iron ore developer has been seeking funding for its Moonlight iron ore project and to pay its debts. It is still developing the paroject, with future work focusing on optimising the pelletising technology process and undertaking activity such as temperature profiling and treatment times.
By Steve McGrath; [email protected]; @stevemcgrath1
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