Australia's Grand Gulf Energy jumps on positive test results from Utah project

Grand Gulf Energy

11/12/2023 02:19

** Shares of Grand Gulf Energy  GGE.AX  rise as much as
62.5% to A$0.013, their highest since June 26
    ** Stock posts its biggest intraday percentage gain since
Nov 22
    ** Helium explorer reports positive test results from its
Red Helium project in Utah
    ** Says it has found gas flowing free to the surface with
high helium concentrations from preliminary swabbing at project
    ** Adds result indicates an enhanced ability of the
reservoir to flow helium gas to surface
    ** About 31.4 mln shares change hands, compared with the
30-day average volume of 2.8 mln
    ** Stock down 57.9% YTD, based on last close



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