Australia's Global Uranium leaps on sale of Lake Johnston Project

Global Uranium and Enrichment

15/01/2024 01:08

** Shares of gold and uranium miner Global Uranium and
Enrichment  GUE.AX  rise as much as 23.1% to A$0.16, their
highest level since Oct 2
    ** Co to sell 80% of its interest in Lake Johnston Project
to mineral explorer Intra Energy Corporation  IEC.AX  
    ** Total consideration of disposal is up to A$2.1 million 
($1.40 million)
    ** Adds, co intends on using the initial cash consideration
of A$175,000 towards ongoing exploration and development of its
North American Uranium assets
    ** 3.7 mln shares change hands as at 0100 GMT, 5.1 times the
30-day average volume of shares
    ** Stock fell ~35% in 2023


($1 = 1.4950 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))