Haranga Resources Ltd remains under voluntary suspension on ASX

Haranga Resources Limited, an Australianbased company engaged in the Selenge Iron Ore Project, is continuing its voluntary suspension of trading on the Australian Stock Exchange (ASX).

Pending the outcome of negotiations in respect of a potential acquisition, Haranga first entered into the voluntary suspension in January 2018. The announcement for the voluntary suspension anticipated that the company would be in a position to announce the terms of the potential acquisition by February 3, 2018. But the company did not feel that it was in a position to lift the suspension and in July 20, the voluntary suspension was extended to September 28, 2018.

Despite the September 28 extension, as of October 18, the company remains suspended according to the ASX. The company confirms that it has not yet agreed terms for an acquisition and accordingly, is not in a position for its securities to be reinstated to trading.

As such, the company has requested that the ASX continue to impose the voluntary suspension of trading in its securities to ensure that no trading in its shares occurs on an uninformed basis. The latest date of the suspension remaining in place is November 30, 2018. The company can lift the suspension prior to that date if negotiations are concluded.

Haranga Resources is an Australia-based company engaged in the transition into the development phase of the Selenge Iron Ore Project located in Mongolia. The company focuses on the construction of the Selenge Iron Ore Project after the exploration phase.

The company's subsidiary, Haranga Khuder LLC, holds the mineral exploration licenses and pre-mining operations agreement for the project. The company's license area covers approximately 3,480.70 hectares, six contiguous licenses, and 16,790 hectares.