Australia's Lion Selection marks best session in 1 month on JV stake sale

Lion Selection

31/01/2022 04:04

** Shares of Lion Selection Group Ltd  LSX.AX  gain as much
as 11.8% to A$0.52, post their best intraday session since Dec
31 
    ** The mining investment co announces sale of its interest
in Pani joint venture to Indonesia-based PT Merdeka Copper Gold
TBK and Provident Capital-controlled Andalan International Pte
for A$74 mln ($51.87 mln)  urn:newsml:reuters.com:*:nASX67g2j8
    ** Co's founder says deal reduces Lion's funding obligations
and risk profile while bolstering co's Net Tangible Assets per
share (NTA)
    ** Stock hits highest level since Jan 24
    ** More than 116,000 shares change hands, compared with the
30-day average volume of about 27,731
    ** Stock down 12.3% this year, as of last close

     ($1 = 1.4267 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))