Australia's Lefroy gains most in 2 weeks after signing deal to develop gold project

Lefroy Exploration

18/12/2024 24:21

** Shares of Lefroy Exploration  LEX.AX  rise as much as
1.5% to A$0.067, their highest since Dec. 12
    ** The gold miner has executed an exclusivity and heads of
agreement with BML Ventures, a private mining contractor, to
develop the Lucky Strike Gold Project
    ** Estimates mineral resources of 1.27 metric tons at 1.95
grams per ton of gold for 79,600 ounces
    ** Profits earned from project to be split equally
    ** Stock posts its biggest intraday percentage gain since
Nov. 29
    ** Stock has fallen 62.3% this year, as of last close

 (Reporting by Nichiket Sunil in Bengaluru)
 ((Nichiket.Sunil@thomsonreuters.com))