Australia's Adelong Gold hits more than 3-month high on stake sale in project

Amara Minerals

24/10/2024 05:41

** Adelong Gold  ADG.AX  jumps as much as 33.3% to A$0.006,
its highest since July 16
    ** Gold explorer will sell up to 51% stake in Adelong Gold
Project in New South Wales to miner Great Divide Mining  GDM.AX 
    ** Says GDM will supply mining equipment to help restart the
gold plant and will increase stake in the project if gold
production begins within 12 months
    ** Co did not disclose the agreement amount for the stake
sale
    ** Stock posts biggest intraday pct gain since Aug. 6
    ** Around 8.7 mln shares traded, 4.3x the 30-day avg
    ** ADG up 10% YTD

($1 = A$1.5049)

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))