Australia's Mandrake Resources falls on termination of Delfin Project term sheet

Mandrake Resources

26/09/2022 04:10

** Shares of Mandrake Resources Ltd  MAN.AX  fall as much as
7.7% to A$0.036, lowest since July 28
    ** Co announces termination of term sheet with Atacamoz Pty
Ltd for acquisition of Delfin Copper Project in Chile
 urn:newsml:reuters.com:*:nFWN30V02Y
    ** Says term sheet is deemed to be at an end, as specified
conditions of the agreement were not met by the end date 
    ** Co had executed a binding term sheet to acquire the
project on March 25, for A$1 million ($651,400.00)in cash and 80
mln shares as consideration  urn:newsml:reuters.com:*:nFWN2VR1H4
    ** Biggest intraday pct loss since Sept. 14
    ** Stock has fallen 23.5% this year, as of last close 
($1 = 1.5352 Australian dollars)
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))