Australia's Kingsrose soars on buying nickel-copper projects in Europe

Kingsrose Mining

10/11/2021 03:08

** Shares of Kingsrose Mining  KRM.AX  rise as much 25.4% to
A$0.084, their highest since May 14, 2018
    ** The gold explorer acquires private UK co Element-46 Ltd
which has mineral exploration rights in Penikat nickel-copper
deposit in Finland and Porsanger copper project in Norway
 urn:newsml:reuters.com:*:nASX5Ft5vK
    ** Adds deal comprises of upfront cash payment of A$536,893 
($397,193.44) and issue of 16.4 mln KRM shares, a deferred cash
payment of A$824,759 and the issue of 31.5 mln shares
    ** Says the two green energy metals-focused exploration
projects are an "enourmous opportunity" to meet a low carbon
future
    ** Stock marks its best day since Feb. 8
    ** Volumes are 12.9 times the 30-day average of 2.1 mln
shares
    ** As of last close, stock up 91.4% this year

($1 = 1.3517 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))