Australia's Nuheara drops to over 7-yr low on sale of non-core mining royalty

Nuheara

25/05/2022 05:25

** Shares of Nuheara Ltd  NUH.AX  drop as much as 16.1% to
A$0.13, hitting their lowest since March 2015
    ** The hearing solutions firm says it entered an agreement
to sell its remaining mining royalty asset to unit of
Canada-based Vox Royalty Corp  VOX.V   urn:newsml:reuters.com:*:nASX9MPs8Y
    ** NUH's remaining mining asset consists of a net smelter
royalty in Peru, held by its 80% owned subsidiary Terrace Gold
    ** Upfront consideration issued to Terrace Gold will be
$50,000 in common shares of Vox and a further payment of
$450,000 in cash or shares
    ** Stock set for its biggest intraday pct loss since May 4,
if losses hold
    ** About 790,000 shares change hands, compared with the
30-day average volume of 199,000 shares
    ** NUH down 53% this year, as of last close

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))