Australia's Platina Resources hits over 1-month high on Skaergaard project sale

Freegold

30/11/2020 04:04

** Shares of Platina Resources Ltd  PGM.AX  rise as much as
8.7% to A$0.05, their highest since Oct. 27
    ** The platinum-focused explorer sells its Skaergaard gold
and palladium project in Greenland to Canadian-listed Major
Precious Metals Corp  SIZE.CD   urn:newsml:reuters.com:*:nASX5H9JpK
    ** Says it got C$0.5 mln ($384,911.47) in cash and 55 mln
Major shares in consideration
    ** Deal allows co to ramp up exploration activities at
Challa gold project in Western Australia, says PGM Managing
Director Corey Nolan
    ** Stock posts its biggest intraday percentage gain since
Nov. 6
    ** About 1.3 mln shares change hands, more than two times
the 30-day average volume of 624,495
    ** Stock has risen nearly three-fold this year as of last
close

($1 = 1.2990 Canadian dollars)

 (Reporting by Yamini C S)
 ((Yamini.CS@thomsonreuters.com;))