Australia's Equatorial Resources falls as Congo unit faces iron project hurdle

Equatorial Resources

15/12/2020 01:38

** Iron ore explorer Equatorial Resources Ltd's shares
 EQX.AX  fall as much as 9.1% to A$0.3 – their lowest since Oct.
8
    ** Co says Minister of Mines of the Republic of Congo has
not provided a favourable response to unit, Congo Mining
Exploration Ltd SARL's, mining licence application for Badondo
iron project  urn:newsml:reuters.com:*:nASX5jnFjt
    ** Equatorial says it plans to respond to the Minister's
letter to correct several factual errors and to seek
clarification on the status of the Badondo licence
    ** Stock posts its biggest intraday percentage loss since
Oct. 8
    ** About 307,000 shares change hands, compared with 30-day
average of 143,000 shares
    ** As of the last close, EQX had risen 32% so far this year
       

 (Reporting by Aditya Munjuluru in Bengaluru)
 ((aditya.srivastsav@thomsonreuters.com))