LONDON (ShareCast) - Trading of Astar shares on AIM has resumed, with shares in the quarry operator plunging almost 67 per cent by midday on Friday.

Shares were suspended on November 12th because the company needed to clarify its financial position after it was unable to raise sufficient funds to follow through on a heads of terms deal with Aggregates West and Valley View Sand and Gravels under which the company agreed to operate a number of quarries based in an area between the US/Canadian border and Seattle.

To resolve the issues the group on Thursday (April 25th) placed 224m new ordinary shares for a gross consideration of £336,000, and announced the disposal of the company's Canadian assets, as a result of which the company is now classified as an investing company.

The share price declined to 0.35p by midday Friday.

NR

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