Fox Resources' (ASX: FXR) is preparing to make an announcement in relation to results at its Bundaberg Coking Coal Project.
The ASX this morning has granted the company a trading halt, with its shares placed in pre-open.
The Bundaberg Project is located in the Bowen Basin of Queensland, and earlier in the month the company announced that high quality coking coal was confirmed with the Fox 6 hole returning raw Coal Swelling Index numbers of 8 to 8.5.
Significantly, Fox will also look to announce a resource in March. The initial raw ply coal quality were encouraging and it is expected that the coal quality will increase with thicker coal seams.
The halt will remain in place until the opening of trade on Thursday 20th March 2014, or earlier if an announcement is made to the market.
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