Australia's Mont Royal Resources rises after completing stake acquisition

Mont Royal Resources

02/12/2021 02:42

** Shares of Mont Royal Resources  MRZ.AX  rise as much as
5.7% to A$0.37, their highest since Nov. 25
    ** Gold and copper miner says it completed acquisition of
75% stake in Canada-based gold miner Northern Lights Minerals
Pty  urn:newsml:reuters.com:*:nASX2sSX3h
    ** Deal also includes rights to acquire further mining
assets in Quebec
    ** Co says will pay for acquisition C$350,000 ($273,480.23)
in cash and about 459,000 shares at deemed issue price of 0.3585
Australian cents 
    ** MRZ adds it will start its maiden exploration programme
at the Quebec site in the upcoming winter 2021/2022 season 
    ** Stock up 29.6% this year, as of last close

($1 = 1.2798 Canadian dollars)

 (Reporting by Aneetta Thomas in Bengaluru)
 ((Aneetta.Thomas@thomsonreuters.com;))