Labyrinth soars after placement to accelerate West Australia gold exploration

Gorilla Gold Mines

20/11/2024 02:48

** Shares of gold miner Labyrinth Resources  LRL.AX  rise as
much as 14% to A$0.285, their highest level since Oct 31
** Co to raise A$19.5 mln  ($12.74 mln) to accelerate gold
exploration programs in Western Australia
    ** Says placement will help co advance exploration at its
Comet Vale, Vivien and Mulwarrie projects
    ** Co is offering shares at A$0.21, a 16% discount to
stock's last close 
    ** Says Genesis Minerals  GMD.AX  subscribed for A$1.45 mln
of placement shares
    ** Stock has risen 407.8% this year, as of last close
     
    ($1 = 1.5307 Australian dollars)

(Reporting by Nichiket  Sunil)
((mailto:Nichiket.Sunil@thomsonreuters.com;))