"does anyone have an idea of the reason for the halt"Hi...

"does anyone have an idea of the reason for the halt"

Hi leroyb.
Yes. RAU requested a trading halt on Wednesday because it was going to make an announcement sometime between the beginning of the trading halt on Wednesday (19/05/10) and the opening of the market on Friday (21/05/10).

The reason given was that RAU was to make an announcement about a "material capital raising".
Presumably RAU has made a placement and it must be for a fairly large amount of money (capital). Possibly as much or more that would have been raised if all the outstanding RAUO had been converted by or on June 5th. (A total of about $6.9 million).

Now for whatever reason, on Friday (21/05/10) RAU decided to ask for a voluntary suspension till trading resumes on Monday 24/05/10.
It may be that there were still details of the announcement to tidy up or that given the market conditions on Friday it was decided that it was not the best day to release the information.

All going well we should know what has been organised on Monday (tomorrow).

Read some of the previous posts here over Wed, Thurs, Fri to see what is said and guessed at.