Stonehenge in acquisition talks

Stonehenge Metals is deep in negotiations regarding the acquisition of a uranium and vanadium project in close proximity to its Daejeon project in South Korea.

The Perth-based uranium explorer has been in a trading halt since May 3, when it suspended its shares pending an announcement regarding a capital raising.

Its stocks last traded at 12.5 cents.

Stonehenge told the ASX today final terms regarding the acquisition were being negotiated, but a definitive binding agreement had yet to be signed.

"However, the rapid pace of negotiations and the material size of the acquisition warranted postponing the proposed capital raising as announced May 3," the company said in a statement.

Stonehenge said its existing activities would not be affected by the postponement of the raising.