“Jump on the Bandwagon – Winsome Resources Limited (ASX: WR1) Halts Trading!

Winsome Resources Limited (ASX:WR1) announced that it has issued a trading halt on its securities this morning. The company has requested the market’s suspension to seek for clarity with its announcement of a new acquisition which shows a major increase in the company’s resources and reserves. The acquisition involves a major copper and gold project in Queensland. This project consists of five adjoining mineral claims covering an area of nearly 4000 hectares and has the potential to contain 1.1 million gold ounces. The acquisition is anticipated to significantly increase the company’s resource base and reserves and will enable the company to realise the full potential of its existing projects. It marks an important strategic move by the company as it continues to expand its position in the resources sector. The decision by the company to issue a trading halt on its securities is common practice for companies that wish to remain compliant with the trading regulations of the Australian Securities Exchange. The halt has been requested until the release of information which provides further information in relation to the acquisition. The acquisition is subject to a number of conditions and the company is set to provide more information once these are met. In the meantime, investors can expect the trading halt to be lifted at some stage during the day. Given the potential of the newly acquired project, investors can certainly look forward to the company’s progress in the near future. Furthermore, the acquisition is likely to result in a significant increase in the company’s share price. As such, investors can look forward to the release of further information regarding the acquisition in the coming weeks.