Discovery Metals' (DML) return to the trading boards was short-lived, with the embattled copper company halting its stock this morning pending the release of information regarding another "potential transaction" involving its Boseto copper project in Botswana.
Discovery offered its hard-hit shareholders no more information, saying only that it expected to report back to them with some news by Monday.
But investors aren't likely to hold their breath. It's been a dismal downhill ride for Discovery shares since the proposed takeover for the company collapsed about two years ago.
In that time the stock has plunged from around $1.60 to just 1.4c. The impact of the sliding copper price culminated in Discovery giving shareholders a Christmas present in the form of a notice that it planned to shut Boseto within six months.
The decision followed a review which found that the cost of the project's high strip ratio pits meant it was not "sufficiently cashflow positive in light of the prevailing copper price".
Earlier this week, Discovery revealed that talks over the sale of Boseto to Cupric Canyon Capital had come to nothing. However, it was now in talks with other potential buyers and was confident it would receive term sheets which would lead to the settlement of all existing debt facilities and provide capital for the Zeta underground development.
Discovery offered its hard-hit shareholders no more information, saying only that it expected to report back to them with some news by Monday.
But investors aren't likely to hold their breath. It's been a dismal downhill ride for Discovery shares since the proposed takeover for the company collapsed about two years ago.
In that time the stock has plunged from around $1.60 to just 1.4c. The impact of the sliding copper price culminated in Discovery giving shareholders a Christmas present in the form of a notice that it planned to shut Boseto within six months.
The decision followed a review which found that the cost of the project's high strip ratio pits meant it was not "sufficiently cashflow positive in light of the prevailing copper price".
Earlier this week, Discovery revealed that talks over the sale of Boseto to Cupric Canyon Capital had come to nothing. However, it was now in talks with other potential buyers and was confident it would receive term sheets which would lead to the settlement of all existing debt facilities and provide capital for the Zeta underground development.