Australia's Krakatoa Resources jumps on acquiring Georgian gold mine project
09/12/2024 03:13
** Shares of Krakatoa Resources KTA.AX rise as much as
45.5% to A$0.016, hitting their highest since mid-June
** Mineral explorer announces binding term sheet with JSC
Caucasas Minerals to acquire up to 80% interest in Zopkhito
project, an antimony and gold project located in Georgia for $7
million
** Says received firm commitments from professional
investors to raise A$1.28 mln ($819,072.00) through placement
** Issue price of A$0.01 per share represents 9.1% discount
to the last close on Dec. 4 when trading was halted pending
announcement of acquisition and capital raise
** Stock has fallen 69.4% YTD as of last close
($1 = 1.5627 Australian dollars)
(Reporting by Namrata Verma in Bengaluru)
((namrata.verma@thomsonreuters.com))