Black Fire Mineralshas a material announcement pending regarding the Kangeshi Copper Project, and therefore the company has been granted a trading halt by the ASX, with its shares placed in pre open.

Black Fire has not yet elaborated any further on the project, but Kangeshi is an advanced project in the Democratic Republic of Congo, and hosts an exploration target of 25 to 35 million tonnes at 0.8 to 1.2% copper and 15 to 20g/t silver.

This target is based on nine broadly spaced diamond holes drilled by Vale in 2008, and highlighting the potential of the project, another five other prospects yet to be assessed.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on January 23.

(Sourced from Proactive Investors)