Bisan Limited's (ASX:BSN) shares are in pre-open following the ASX granting the company a trading halt.
The company requested the halt pending an update on exploration results from current exploration activities undertaken at the Pencil Hill Graphite project in Botswana.
Bisan is considering acquiring an interest in the project.
In August, two diamond holes were drilled 50 metres apart and intersected wide graphite mineralization, as part of Bisan’s due diligence program.
The core samples have been sent to an independent laboratory for analysis.
The Prospecting Licence covers an area of 830 square kilometres with a potential strike of 25 kilometres within the licence area.
The halt will remain in place until the opening of trade on Thursday 11th September 2014, or earlier if an announcement is made to the market.
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