Australia's Koonenberry Gold jumps most in 6 months on NSW projects acquisition

Global Uranium and Enrichment

17/10/2024 04:37

** Shares of Koonenberry Gold  KNB.AX  jump 50% to A$0.018,
set for biggest daily rise since April 18, if current gains hold
    ** Mineral explorer enters into binding agreements to buy
Enmore Gold Project from Global Uranium & Enrichment  GUE.AX ,
and Gilmore Metals (Gilmore) for Lachlan Project in New South
Wales
    ** Says GUE will receive 35 mln KNB shares while Gilmore's
shareholders to get 95 mln KNB shares
    ** Says deals to be partially funded by underwritten share
placement of A$4.5 mln ($3.01 mln) at A$0.010 per share
    ** Stock hits its highest level since mid-June
    ** About 22.8 mln shares change hands, 34.8x the 30-day avg
    ** Stock down 53.2% YTD

($1 = 1.4948 Australian dollars)

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))