Australia's Elmore sees best day in two weeks on deal to buy Peko Project

Elmore

18/07/2022 02:43

** Shares of Elmore Ltd  ELE.AX  rise as much as 5.9% to
A$0.036, their biggest intraday pct gain since July 4 
    ** The mineral processing co says it has executed an
agreement to buy the Peko project in the Northern Territory plus
all the companies related to this project, held by the existing
owners  urn:newsml:reuters.com:*:nFWN2YW4CZ
    ** Says purchase price of the project is A$30 million 
($20.42 million)
    ** About 1.9 mln shares change hands, 1.5 times compared
with the 30-day average volume of 1.3 mln shares 
    ** Stock has risen 47.8% this year, as of last close

($1 = 1.4689 Australian dollars)

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))