Shares in Eyre Peninsula miner IronClad are in a trading halt.

IronClad, which originally listed to develop the Wilcherry Hill deposit near Kimba on the Eyre Peninsula, was granted the trading halt this morning.

The company said the halt was requested until the beginning of trading on Wednesday “or upon a release of announcement to the market by the company regarding a capital raising”.

Meanwhile, shares in Pilbara miner Atlas Iron plunged 69 percent after resuming trading for the first time in more than three months.

Atlas Iron shares had plunged 8.3 cents to 3.7 cents as of 1020 AEST on Monday, having traded at 12 cents per share prior to their suspension.

The company suspended its shares in April after a slide in iron ore prices forced it to close three mines, which have now been restarted following a capital raising.

The capital raising netted $87 million, well below the $180 million the company has targeted.