Yes I'm sure you've nailed the reason - the information would have been required by the ASX by the next trading day so as they couldn't do it in that timeframe then they had to go into a trading halt.
I hope they maintain their interest in the project and not sell any more of it to NST - given their current cash on hand, I'd guess they shouldn't have to equity raise more than $20mil and be able to debt fund the balance. I'd certainly take up a 1 for 2 issue at 4c especially if they could put some timeline on probable construction go-ahead and resulting production.
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