Australia's Sinclair Gold jumps on $2 mln Medaro Sala project deal

Medaro Mining

17/08/2026 05:55

** Shares of Australia's Sinclair Gold SGC.AX rise as much as 14.4% to A$1.350, marking their biggest intraday pct gain since April 8
** Gold explorer and developer signs binding earn-in agreement with Canada-based mineral exploration firm Medaro Mining Corporation MEDA.CD for its Sala silver-zinc-lead project in Sweden
** Adds deal represents up to A$3.4 million ($2.41 million)in potential cash consideration, shares and Medaro-funded exploration expenditure
** Adds transaction converts earlier non-binding letter of intent announced in May into legally binding deal
** Co says it intends to use funds for exploration activities at its Mt Henry Gold Project in Western Australia, others
** About 220,065 shares change hands, about 1.7x the 30-day average 
** Stock last down 10.6% with YTD losses of 27.5% 

($1 = 1.4092 Australian dollars)

 (Reporting by Subhalakshmi Dey in Bengaluru)
 ((Subhalakshmi.Dey@thomsonreuters.com;))