Australia's Greenvale Mining rises as co buys stake in geothermal energy firm

Greenvale Energy

01/06/2022 02:40

** Shares of Greenvale Mining  GRV.AX  climb as much as 20%
to A$0.21, their best intraday gain since Jan 31
    ** Co says it will buy an initial 51% stake in Within Energy
Pty Ltd, a geothermal energy firm based in Queensland
 urn:newsml:reuters.com:*:nGLF9GZ472 
    ** A 51% stake for a consideration of 3 mln fully-paid
ordinary GRV shares
    ** Greenvale to increase stake to 100% upon attaining
certain milestones 
    ** Stock hits highest level since May 9 
    ** Trading volumes at twice their 30-day average, with
nearly 835,000 shares traded so far
    ** Stock down by nearly half YTD, as of last close 
    


 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))