Australia's Mako Gold shines on buyout offer from Aurum Resources

Medcann Industries

16/10/2024 04:01

** Shares of Mako Gold  MKG.AX  rise 68.4% to A$0.016, their
biggest intraday pct gain on record 
    ** The gold explorer received a takeover offer from larger
gold co Aurum Resources  AUE.AX  
        ** Under deal, Aurum to offer 1 Aurum share for every
25.1 Mako shares
    ** A total deal value was not disclosed
    ** Stock hits its highest level since April 24
    ** Almost 18.5 mln shares change hands, compared with the
30-day average volume of 1.4 mln 
    ** Stock up 50% YTD, including current session's moves
    
    

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))