Australia's Aurumin jumps most in 1 month on divesting WA mining tenements

DM KER Nyrt

18/10/2023 04:50

** Shares of Aurumin Ltd  AUN.AX  rise as much as 11.5% to
A$0.029, their biggest intraday jump since Sept. 15
    ** Mineral explorer enters binding agreement with Beacon
Minerals Ltd  BCN.AX  for sale of Mt Dimer mining tenements in
Western Australia
    ** Aurumin to receive cash consideration of A$3.0 mln ($1.91
mln) on completion of deal
    ** Shares of Beacon Minerals largely unchanged at 0328 GMT 
    ** Aurumin's shares hit their highest level since Oct. 11 
    ** Co says funds from sale will be used to reduce
outstanding balance of convertible note held by Collins Street
Asset Management 
    ** AUN down ~57% YTD as of last close 
   


($1 = 1.5694 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))