Aussie Megado Minerals falls most in 6 weeks as forest fire affects project

Megado Minerals

07/06/2023 04:34

** Shares of Megado Minerals  MEG.AX  dip as much as 14.8%
to A$0.052, posting their biggest intraday pct fall since April
26 
    ** Co says will temporarily postpone on-ground exploration
activities at James Bay region after a ban on access to forest
lands and closure of forest roads by the government due to a
fire outbreak in Quebec
    ** Says co and its partner Dahrouge Geological Consulting,
demobilised until further notice
    ** Adds, impact on co's ops will be minimal
    ** Shares hit their lowest level since May 31
    ** MEG stock up 35.6% YTD, as of last close 

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))