Discovery Metals (ASX:DML) has been granted a trading halt by the ASX, with its shares placed in pre-open.
DML requested the halt pending details in connection with discussions the company is having regarding the payment of the US$3.2 million settlement sum to Sedgman Limited and its wholly-owned subsidiaries.
The company is focussed on the emerging Kalahari Copperbelt in north-west Botswana, and is a copper producer at its wholly-owned Boseto Copper Project.
The June quarter 2014 delivered the best quarterly results since the commencement of mining operations with 5,367 tonnes copper in concentrate produced, including record monthly copper production of 2,011 tonnes achieved in April 2014; a 25% increase in copper production compared with Q3 FY14.
The halt will remain in place until the opening of trade on Thursday 7th August 2014, or earlier if an announcement is made to the market.
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