Australia's Ausgold surges to 9-year high on agreement with Cygnus Gold

Ausgold

13/04/2022 07:00

** Shares of Ausgold Ltd  AUC.AX  rise as much as 9% to
A$0.085, their highest since Feb 28, 2013
    ** Co says https://www.investi.com.au/api/announcements/auc/6611754d-9a2.pdf
 it entered farm-in agreement with mineral explorer Cygnus Gold
 CY5.AX  in respect of Stanley Gold Project in Western
Australia, near to its Katanning Gold Project
    ** Under the agreement, Ausgold could earn up to an 85%
interest in the project over three years by meeting expenditure
milestones 
    ** Past drilling at Stanley has found significant gold
grades
    ** AUC posts its biggest intraday pct gain since March 25
    ** About 13 mln AUC shares change hands, compared with the
30-day average volume of 6 mln 
    ** AUC up 66% this year, as of last close

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