Australia's Mandrake Resources jumps as co acquires new copper project in Chile

Mandrake Resources

25/03/2022 02:04

** Shares of mineral explorer Mandrake Resources  MAN.AX 
rise as much as 64.4% to A$0.074, their highest level since Oct
22, 2021
    ** Says it has executed a binding term sheet to acquire the 
Delfin copper project in the Antofagasta region of Chile 
 urn:newsml:reuters.com:*:nASX6QCN79 
    ** Co paid A$1 mln ($752,400) in cash and issued 80 mln
shares as consideration 
    ** About 51 mln shares have changed hands, nearly 56 times
the 30-day average 
    ** Mandrake stock down 7.8% YTD, as of last close 
   
     ($1 = 1.3291 Australian dollars)
    

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))