News: General Mining Corporation granted ASX halt

General Mining Corporation (ASX:GMM) is heading to market with a capital raising.

The ASX has granted the company a trading halt to prepare, with its shares placed in pre-open.

General Mining has the right to acquire a 50% interest in the Mt Cattlin Lithium Project from Galaxy Resources.

The project is forecast to re-start towards the end of the March quarter 2016, and would be the only operating lithium mine on ASX.

Mt Cattlin is located in Ravensthorpe, Western Australia, with the project in full operation during 2010 and 2011.

The halt will remain in place until the opening of trade on Wednesday 9th September 2015, or earlier if an announcement is made to the market.