Australia's Ausgold rises on gold resource expansion at WA project

Ausgold

07/12/2021 04:56

** Shares of gold explorer Ausgold Ltd  AUC.AX  jump as much
as 11.1% to A$0.050, their biggest intraday pct gain since Aug
18
    ** Co says https://www.asx.com.au/asxpdf/20211207/pdf/453w8j63s53q8g.pdf
 resource estimate at its flagship Katanning gold project in
Western Australia totals 1.84 mln ounces of gold, an increase of
19% in total contained ounces compared with previous existing
resource estimate 
    ** AUC says resource critically sets co on path to
potentially become a mid-tier gold producer 
    ** Stock hits highest level since Nov 22
    ** More than 6 mln shares change hands, about 2.4 times
their 30-day average 
    ** Stock down ~4.3% so far this year, as of last close 
    


 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))