Australia's Middle Island Resources jumps on plans to demerge Barkly copper-gold assets

Middle Island Resources

09/03/2021 01:34

** Shares of gold explorer Middle Island Resources  MDI.AX 
rise as much as 8.9% to A$0.245, marking their biggest intraday
pct gain since Dec. 23
    ** Co says it would demerge its Barkly copper-gold assets in
the Northern Territory of Australia  urn:newsml:reuters.com:*:nASX2Cy57N
    ** Co also plans to IPO Barkly Operations Pty Ltd (BOPL) on
the ASX
    ** Expects eligible shareholders of co will receive free
shares in BOPL in the same proportions as their respective
holding 
    ** Stock down 43.8% YTD as of last close 

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