Australia's Beacon Minerals rises on acquiring mining tenements from Geko Pit

Beacon Minerals

05/10/2022 02:35

** Shares of gold explorer Beacon Minerals Ltd  BCN.AX  rise
as much as 4% to A$0.026, their highest since Sept 14
    ** Co says it acquired gold mining tenements including
mining lease (M15/621) and miscellaneous licence (L15/355),
located in Eastern Goldfields of Western Australia, from
Australia-based firm Geko Pit Pty Ltd  urn:newsml:reuters.com:*:nASX2bgFwB
    ** Says acquisition of tenements will be done via cash
payment of A$10.75 mln ($6.98 mln)
    ** Co says Geko tenements lie near its gold processing plant
in Jaurdi, and the acquisition will elongate its gold mine life 
    ** Beacon stock posts its biggest intraday pct gain since
Sept 30
    ** More than 5,253,239 shares change hands, vs the 30-day
average volume of 4,703,648 shares
    ** Stock down 24.2% this year, as of last close
     ($1 = 1.5404 Australian dollars)
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))