Australia's Orminex hits 2-week high on deal for high-grade gold projects in Canada

Gorilla Gold Mines

02/09/2021 03:48

** Shares of Orminex Ltd  ONX.AX  rise as much as 21.4% to
A$0.051, marking their best day since Aug 20
    ** The gold producer enters into a definitive agreement with
Nippon Dragon Resources Inc  NIP.V   urn:newsml:reuters.com:*:nFWN2Q30R8
    ** Says deal to acquire a 100% interest in the Rocmec gold
project and the Denain gold project, located in the Abitibi Belt
region of Tier-1 jurisdiction Quebec, Canada 
    ** Stock posts highest since Aug 17
    ** ONX says it will complete placement of A$8 mln ($5.89
mln) and share purchase plan of A$1.5 mln to fund acquisition
and aggressive exploration, expected to start in
December-quarter 2021
    ** Stock up 61.5% YTD, as of last close 
    
    ($1 = 1.3581 Australian dollars)

 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))