Australia's Avira Resources gains on acquiring Ni-Cu-Co project in Sweden
10/10/2022 04:32
** Shares of Avira Resources Ltd AVW.AX gain as much as
33% to A$0.004
** The exploration co says it signed a binding Heads of
Agreement to acquire the Puolalaki Ni-Cu-Co Project in Sweden
** Adds that Puolalaki has favourable tectonic and geologic
setting for Ni-Cu-PGE sulphide mineralisation and also contains
significant high-grade gold mineralisation
** Under deal, AVW to issue Exclusivity Shares to the value
of A$60,000 ($38,112) to the owners of the project upon
execution of the HOA, among others
** Stock has fallen 40% this year, as of last close
($1 = 1.5743 Australian dollars)
(Reporting by Jaskiran Singh in Bengaluru)
((Jaskiran.Singh@thomsonreuters.com;))