Northern Mining (ASX:NMI) has been granted a trading halt by the ASX pending details of an acquisition.
The company's cash position recently swelled to $9 million after selling its Georges Reward Project to Metals X (ASX:MLX).
Northern Mining holds prime gold prospecting acreage located around Kalgoorlie Boulder, on one of the world’s most productive gold belts.
Tony Ong, non-executive chairman for Northern Mining, recently told Proactive Investors: "We are always looking at enhancing our mining portfolio and gold is of particular interest at the moment as the falling AUD is offsetting the decrease in gold prices.
"Many miners in the area have recognized our strength and have approached us to consider a series of collaborations. We are assessing these opportunities in a prudent manner."
The halt will remain in place until the opening of trade on Monday 21st September 2015, or earlier if an announcement is made to the market.