Shares in Adelaide mining company Havilah Resources have resumed trading on the ASX following a voluntary suspension so the company could retract statements on social media about an iron ore find.
Havilah had asked for the trading halt on Monday after Havilah’s technical director gave optimistic interviews about the size of its recent iron ore discovery in the Grants Basin near Broken Hill.
Specifically, Dr. Chris Giles told Proactive Investors that the potential of the find “could be billions of tonnes”.
Havilah said in a statement on Friday that it retracts these statements and investors shouldn’t rely on them.
The company said it hadn’t defined the scope of the iron ore find due to wide spacing between drillholes.
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Havilah Resources shares resumed trading in late afternoon and finished at 14.5 cents, down a penny from where they had traded on Monday.
Havilah didn’t immediately return a call for comment.