Tiger Brokers

BUZZ-Australia's Koonenberry Gold jumps most in 6 months on NSW projects acquisition

Reuters
Oct 17, 2024

** Shares of Koonenberry Gold jump 50% to A$0.018, set for biggest daily rise since April 18, if current gains hold

** Mineral explorer enters into binding agreements to buy Enmore Gold Project from Global Uranium & Enrichment , and Gilmore Metals (Gilmore) for Lachlan Project in New South Wales

** Says GUE will receive 35 mln KNB shares while Gilmore's shareholders to get 95 mln KNB shares

** Says deals to be partially funded by underwritten share placement of A$4.5 mln ($3.01 mln) at A$0.010 per share

** Stock hits its highest level since mid-June

** About 22.8 mln shares change hands, 34.8x the 30-day avg

** Stock down 53.2% YTD

($1 = 1.4948 Australian dollars)

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com;))

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