Australia's Jade Gas hits 1-week high on securing financing

Jade Gas Holdings

01/11/2023 23:49

** Shares of Jade Gas  JGH.AX  climb as much as 2.7% to
A$0.038, hitting their highest since Oct 24 
    ** Gas producer says it has entered an agreement with a
shareholder to secure A$11 mln ($7.06 mln) in unsecured
convertible notes
    ** Says funds raised will be primarily used for drilling
programme and production in the Tavantolgoi project in Mongolia
    ** Stock down ~24.5% this year, as of last close

($1 = 1.5584 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))