Australia's Auteco Minerals surges on stake buy in high-grade Canada gold project

First Mining Gold

28/01/2020 24:45

** Shares of Auteco Minerals Ltd  AUT.AX  jump as much as
18.2% to A$0.013, their highest since April 12, 2017
    ** Neuroscience technology company says it entered into an
agreement with First Mining Gold Corp  FF.TO  to acquire up to
80% of the Pickle Crow high-grade gold project in Ontario,
Canada  urn:newsml:reuters.com:*:nASX5CYzCn
    ** Co appointed Ray Shorrocks as executive chairman and
Steve Parsons as non-executive director 
    ** Says it has received commitments to raise A$1.2 mln
($820,680.00) at A$0.008 per share, a discount of 27.3% to last
close
    ** Says proceeds will help co fast-track exploration on
ground; Board to participate in about 40% of placement
    ** About 12 mln shares change hands, compared with the
30-day average of over 1.4 mln shares
    ** Stock up 22.2% this year, as of last close
($1 = 1.4622 Australian dollars)

 (Reporting by R.R.Deepti Sri in Bengaluru)
 ((Deepti.sri@thomsonreuters.com))