Western Mining Network (ASX:WMN) has some interesting news pending in the form of results of drill core samples from the Tamboli Graphite Project, located in Indonesia.
The ASX has granted the company a trading halt, with its shares placed in pre-open.
Earlier in the week WMN announced that it had signed a Heads of Agreement with a consortium of three Korean companies to fast track development of Tamboli.
The consortium consists of Udin Engineering Co. Ltd, E-Petro Chemical Co. Ltd and Nexinova Corporation Ltd.
Under the HOA, WMN will be responsible for mining and stockpiling graphite ore, Udin will be responsible for engineering, procurement and construction of a beneficiation plant at the Tamboli Project.
E-Petro will be responsible for ensuring that the output from the beneficiation plant will be a suitable graphite carbon powder that can be marketed by Nexinova to its proprietary steel industry customers throughout Asia.
The halt will remain in place until the opening of trade on Friday 12th December 2014.
News: Western Mining Network to reveal graphite results
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