Australia's Marvel Gold jumps on fundraising plans for Mali project

Marvel Gold

07/03/2022 03:32

** Shares of Marvel Gold Ltd  MVL.AX  rise as much as 6.5%
to A$0.049, marking their biggest intraday pct gain since Jan.
19
    ** Gold explorer says it will conduct a non-renounceable pro
rata entitlement offer at an issue price of A$0.045 to raise up
to A$5.2 mln ($3.85 mln) urn:newsml:reuters.com:*:nASX9pHZwp
    ** Proceeds from the offer will be used to complete drilling
programmes at its Tabakorole Gold Project in southern Mali
    ** More than 10 mln shares change hands, vs the 30-day
average volume of ~783,000
    ** Stock down 25.8% YTD, as of last close
($1 = 1.3503 Australian dollars)

 (Reporting by Arundhati Dutta in Bengaluru)
 ((Arundhati.Dutta@thomsonreuters.com;))