Australia's Black Canyon jumps after earning 51% stake in Carawine project

Carawine Resources

04/04/2022 04:14

** Manganese explorer Black Canyon  BCA.AX  rises as much as
14.3% to A$0.0.360, hits its highest since May 27
    ** Says https://app.sharelinktechnologies.com/announcement/asx/1b816ada6b5e919b169588af0cbfd47e
 it earned a 51% stake in Carawine joint venture tenements in
Eastern Pilbara, Western Australia
    ** Says stake earned as part of a deal with precious and
base metals miner Carawine Resources  CWX.AX  signed last year
    ** Under deal, BCA manages Carawine JV, to solely fund A$2.5
mln ($1.88 mln) in exploration expenditure within next three
years to earn additional 24% interest
    ** CWX shares up 2.4%, their biggest intraday pct jump since
March 7
    ** BCA marks its biggest intraday pct jump since March 2
    ** BCA has risen 31.3%, while CWX up 20% this year, as of
last close

($1 = 1.3323 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))