Epic Resources has been granted a halt by the ASX pending the release of details surrounding an agreement to acquire coal assets, with the company's shares placed in pre open.

Epic has not yet released any further details, but the company is in a well-funded position with cash reserves of AUD 3.75 million at the end of 2011, yet the company has a market cap. of just AUD 3 million.

In the December quarterly Epic did point out that the company has been, 'actively evaluating a number other projects that include, without limitation, coal, iron ore, copper, gold, manganese, tin, nickel, potash and tungsten both within Australia and abroad.

Epic said that “The company is confident that it will be able to suitably identify a project that meets the company’s short term objectives and growth strategy.”

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on February 9.

(Sourced from www.proactiveinvestors.com.au)