Australia's Venture Minerals jumps on sale of it's Iron ore unit in Tasmania

Critica

24/06/2024 05:14

** Shares of Venture Minerals  VMS.AX  rise as much as 4.2%
to A$0.025, their biggest intra day pct gain since June 17
    ** Mineral explorer has entered into a share purchase and
sale agreement with Goldvalley Brown Stone to sell its unit,
Venture Iron, holder of Riley iron ore mine located in Tasmania
    ** Upon completion, VMS will transfer 100% of the shares in
Venture Iron to Gold Valley for A$3 mln ($1.99 mln)
    ** More than 3.7 mln shares change hands, compared with the
30-day average volume of 6.6 mln shares
    ** Stock up 242.9% this year, as of last close


($1 = 1.5074 Australian dollars)

 (Reporting by Megha Rani in Bengaluru)
 ((Megha.Rani2@thomsonreuters.com;))