Australia's Metalstech rises on receiving placement to fund exploration in Slovakia

Global Gold Mining

22/12/2022 24:12

** Shares of gold explorer Metalstech Ltd  MTC.AX  rise as
much as 10.3% to A$0.59, their highest since Oct 7, 2021
    ** Chinese precious metals miner Chifeng Jilong Gold Mining
Co Ltd  600988.SS  makes A$3 mln ($2.01 mln) placement in
Metalstech
    ** Says funds from placement will be used by MTC for
exploration at co's Sturec Gold Deposit in Slovakia 
    ** Says following placement Chifeng will become about 9%
shareholder in co
    ** Shares of co are up 84.5% YTD as of last close 
($1 = 1.4908 Australian dollars)
 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))