Cassius Mining soars on filing $277 mln claim against Ghana

Cassius Mining

24/12/2024 24:47

** Cassius Mining  CMD.AX  soars as much as 10% to A$0.01;
highest since early May
    ** Miner's Ghana unit files $277 mln claim against the
country as a consequence of breaches of contract and statute
    ** Says claim amount is an independent expert assessment of
co's lost profits and damages for the loss of opportunity to
develop, establish and benefit from a producing gold mine in its
licenced area in Ghana's Talensi District
    ** Adds Ghana's actions, including its failure to renew co's
prospecting licence, deprived Cassius of entire value and
profits of its gold project in the country
    ** Stock down 75% this year, as of last close

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))