Australia's Labyrinth Resources jumps most in near 29 years on gold project acquisition

Gorilla Gold Mines

17/07/2024 03:17

** Shares of Labyrinth Resources  LRL.AX  rise as much as
280% to A$0.019, their biggest intraday percentage gain since
Oct 12, 1995
    ** Stock hits its highest level since Jan 31, 2023
    ** The gold explorer says it will buy Vivien Gold Project in
Western Australia
    ** Says it also secured the option to buy remaining 49%
stake in Comet Vale Project in Western Australia for A$3 mln 
($2.02 mln)
    ** About 21.8 mln shares change hands, compared with the
30-day average volume of around 718,000
    ** Stock swings to YTD gains, last up 128.6% including
session's moves


    ($1 = 1.4839 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))