Australia's Balkan Mining rises on deal for Sandfire's exploration permit application

Balkan and Sea Properties ADSITS

07/02/2022 02:07

** Shares of Balkan Mining and Minerals  BMM.AX  rise as
much as 6.3% to A$0.420, post their best session since Feb. 1
    ** The lithium explorer enters https://www.asx.com.au/asxpdf/20220207/pdf/455qlssj1ptx57.pdf
 into an agreement to acquire Sandfire Resources Ltd's  SFR.AX 
exploration permit application in Bosnia and Herzegovina
    ** Co to pay Sandfire A$250,000 ($176,900) in form of BMM's 
ordinary shares, issued at A$0.38971 per share
    ** Deal to strategically expand co's Balkan portfolio of
critical green metal assets to service the battery technology
and electrons sectors
    ** Stock down ~18.6% so far this year, as of last close 
    



($1 = 1.4132 Australian dollars)

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