Australia's Impact Minerals jumps on selling stake in NSW project

Impact Minerals

19/03/2024 01:04

** Shares of Impact Minerals  IPT.AX  rise as much as 7.8%
to A$0.014, posting their biggest intraday percentage gain since
March 6
    ** Copper and gold explorer announces sale of 75% stake in
its Commonwealth project in New South Wales to Burrendong
Minerals
    ** Says under the deal, IPT shareholders will get priority
entitlement for up to A$2 mln ($1.31 mln) worth of shares in the
Burrendong initial public offering
    ** Adds Burrendong will pay co a further A$275,000 in cash 
    ** IPT stock down 30.8% YTD, as of last close

($1 = 1.5265 Australian dollars)

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