Australasian Metals soars after selling WA gold project to Marquee Resources

Marquee Resources

17/07/2023 05:00

** Shares of gold miner Australasian Metals Ltd  A8G.AX 
jump as much as 10.5% to A$0.21
    ** Co says entered into a tenement sale agreement with
Australia-based mineral explorer Marquee Resources  MQR.AX    
    ** Agreement for sale of the A8G's 100% interest in the
Fairview Gold Project, Western Australia, for 6.5 mln MQR shares
and 6 mln options
    ** Says transaction enables Australasian to focus on its
lithium exploration activities in the Northern Territory, among
others
    ** More than 84,000 shares change hands, compared with the
30-day average volume of about 46,000 shares
    ** Shares of Marquee Resources rise up to 8.3% to A$0.039 on
the acquisition, hitting its highest since July 7
    ** A8G flat this year, as of last close

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