Australia's Apollo Consolidated rises on deal to sell Seguela gold royalty

Gold Royalty

18/03/2021 24:27

** Shares of mineral explorer Apollo Consolidated Ltd
 AOP.AX  gain as much as 7% to A$0.38 – their biggest intraday
percentage gain since Feb 2
    ** Co says it will sell its 100% royalty in Seguela gold
project in Côte d'Ivoire for A$20 mln ($15.63 mln) to Gold
Royalty Corp  GROY.A  
    ** AOP says Seguela gold project's owner, Canada-based
goldminer Roxgold Inc  ROXG.TO   has a 14-day period in which it
may elect to match the terms of the agreement to buy back the
royalty itself
    ** Stock hits its highest level since Feb 19
    ** AOP had risen 14.5% this year, as of last close
($1 = 1.2793 Australian dollars)

 (Reporting by Aditya Munjuluru in Bengaluru)
 ((aditya.srivastsav@thomsonreuters.com))