Australia's GWR Group surges most in more than 9 months on iron ore project sale

GWR

21/12/2023 01:26

** Shares of GWR Group  GWR.AX  rise as much as 26.5% to
A$0.105, set for best day since March 10 - if current trend
holds 
    ** Gold explorer executes legally binding agreement to sell
Wiluna West Iron Ore Project to Gold Valley West Wiluna Pty Ltd
    ** Co says agreement to sell remaining stake in project for
A$30 mln ($20.23 mln) and a $2.00 dmt royalty
    ** Stock hits its highest level since March 22
    ** More than 1.6 mln shares change hands, compared with the
30-day average volume of 66,220
    ** Stock had risen 38.3% YTD, as of last close

($1 = 1.4830 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com))