Australia's Metalstech soars on receiving offer for Slovakia project

Global Gold Mining

14/01/2024 23:24

** Shares of Metalstech Ltd  MTC.AX  rise as much as 29.2%
to A$0.310, their highest level since Nov. 14 
    ** Gold explorer gets non-binding offer from Canadian
private equity group Trans Metal Fund to acquire Ortac Resources
(UK) 
    ** Ortac Resources (UK) is a unit of co which fully owns
Sturec Gold Project in Slovakia 
    ** Says proposed consideration includes upfront cash payment
of US$36 mln on completion of deal, among others 
    ** Co sees biggest intraday jump since Dec. 20 
    ** About 971,231 shares change hand compared to 30-day
average trading volume of 336,535 shares 
    ** Stock fell 57.7% in 2023 
   

 (Reporting by John Biju in Bengaluru; Editing by Lisa Shumaker)
 ((John.Biju@thomsonreuters.com;))