Australia's Okapi jumps on buying Canadian uranium exploration assets

ALX Resources

09/11/2021 01:10

** Shares of mineral explorer Okapi Resources  OKR.AX  jump
as much as 8.2% to A$0.595, their highest since Nov. 1
    ** Co enters agreement with ALX Resources Corp  AL.V  to buy
six high-grade uranium exploration assets in the Athabasca
Basin, Canada, covering more than 55,000 ha  urn:newsml:reuters.com:*:nASXbR9Zq4
    ** Says it has paid A$2.2 mln ($1.63 mln) in cash and stock
for the deal
    ** Co previously announced the acquisition of uranium ponds
in the U.S.  urn:newsml:reuters.com:*:nL4N2R80YL
    ** Stock posts biggest intraday pct gain since Nov. 1
    ** More than 354,000 shares change hands vs 30-day avg
volume of ~252,000
    ** Stock up 182.1% this year, as of last close


($1 = 1.3517 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))