Australia's Akora Resources jumps on capital raising for Madagascar project

Akora Resources

17/04/2024 01:46

** Shares of Akora Resources  AKO.AX  rise as much as 33.3%
to A$0.200, set for best day since March 23, 2023, if gains hold
    
    ** Miner announces capital raising for up to A$3.8 million 
($2.44 million) at offer price of A$0.15 per share 
    ** Funds raised to be used for drilling at Satrokala iron
ore project in Madagascar, among others - co
    ** Stock at highest level since Aug. 4, 2023    
    ** Over 348,800 shares change hands, compared with the
30-day average volume of 80,386
    ** AKO flat this year as of last close

($1 = 1.5586 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))