Australia's GTI Resources rises as co acquires uranium project in U.S.

American Uranium

06/04/2022 04:16

** Shares of mineral exploration company GTI Resources
 GTR.AX  rise as much as 4% to A$0.026, their highest since
March 29
    ** Co says https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02507519-6A1085514?access_token=83ff96335c2d45a094df02a206a39ff4
 to acquire 100% of significant ISR Uranium project Logray
Minerals in Wyoming, United States
    ** Logray has about 13,800 acres of "underexplored" mineral
lode claims at the project
    ** GTR to pay A$750,000 reimbursement of costs and
consideration of 105 mln fully paid ordinary shares to Logray
shareholders 
    ** Acquisition to be funded partly through the placement of
240 mln shares at an issue price of A$0.021
    ** Stock posts its biggest intraday pct gain since March 31 
    ** About 13.7 mln shares change hands, compared with the
30-day average volume of 11.5mln
    ** Stock up 4.17% this year, as of last close

 (Reporting by Anan Ashraf)
 ((Anan.Ashraf@thomsonreuters.com))