Australia's Kingwest Resources jumps most in 3 weeks on gold JV

Kingwest Resources

06/10/2021 05:45

** Shares of Kingwest Resources Ltd  KWR.AX  jump as much as
26% to A$0.170, set for their best session since Sept. 15
    ** Miner forms https://www.asx.com.au/asxpdf/20211006/pdf/451bhr7x4ppl5l.pdf
 JV with peer FMR Investments Pty Ltd to recommence underground
mining at the Yunndaga deposit within the Menzies gold project,
Western Australia
    ** JV to cover 180,000 gold ounces or five years from the
commencement of mining, whichever is earlier
    ** KWR says FMR to cover all capital costs and will be
responsible for mining, haulage and processing through FMR's
Greenfields mill project in Coolgardie, Western Australia
    ** About 4 mln KWR shares change hands, 2x the 30-day avg
volume of 2 mln
    ** Stock down 20.6% this year, as of Tuesday's close

 (Reporting by Aneetta Thomas in Bengaluru)
 ((Aneetta.Thomas@thomsonreuters.com;))