South American Iron & Steel Corporation has been placed in pre open pending capital raising details.

The company has projects in both Ecuador and Chile.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Wednesday 19th December.

South American Iron & Steel goal is to produce high quality magnetite iron ore concentrates from iron sands and conventional magnetite iron ore deposits and ultimately produce pig iron at the low end of the cost curve using the best and newest technology available.

SAIS is environmentally and socially conscious, and intends to consult with and improve the quality of life in local communities in our area of operations.