Australian Gold and Copper posts record jump on investment from Delin Mining

Australian Gold and Copper

21/09/2023 01:49

** Shares of Australian Gold and Copper  AGC.AX  jump as
much as 63.2% to A$0.093, their best day ever, if gains hold
    ** Stock hits highest level since June 2, 2022
    ** Gold explorer received A$10.1 mln ($6.49 mln) as
strategic capital investment by Delin Mining Group Cooperation
Ltd
    ** Co says Delin will subscribe for 122.2 mln new fully paid
ordinary shares at A$0.082636 per share
    ** Following completion of placement, Delin to hold 55% of
issued share capital of AGC
    ** Adds that upon completion of transaction, co will appoint
Zhang Yong to the board as co-chairman
    ** More than 11.1 mln shares change hands, 106.2x the 30-day
average volume of 104,742 shares
    ** Stock has fallen 5% this year as of last close


($1 = 1.5559 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((Shivangi.Lahiri@thomsonreuters.com;))