Australia's Kalamazoo Resources plunges on selling JV stake in gold project

Novo Resources

10/03/2023 24:31

** Shares of Kalamazoo Resources Ltd  KZR.AX  slump as much
as 11.8% to A$0.15, their lowest since July 4, 2019
    ** Gold miner sells 50% joint venture interest in Queens
gold project in Victoria to Novo Resources Corp
    ** Says sale consideration comprises payment of A$750,000
($493,875.00) cash and issue of A$750,000 in Novo common shares
to co
    ** Stock on track for worst day since Feb 13, if losses hold
    ** Stock up 19.1% this year as of last close



($1 = 1.5186 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))