Australia's Orecorp hits near 2-month high on sweetened bid from Silvercorp

Orecorp

23/11/2023 03:44

** Shares of Orecorp Ltd  ORR.AX  rise as much as 4.2% to
A$0.5, their highest since Sept. 26
    ** Stock posts its biggest intraday pct gain since Sept. 18
    ** Mining explorer says Silvercorp Ltd  SVM.TO  has
increased the per share price for the co's acquisition from
A$0.15 to A$0.19 in cash
    ** Revised offer represents 12% premium to the closing price
of OreCorp shares of A$0.485 on Nov. 21
        ** About 1.6 mln shares traded, compared with the 30-day
average volume of 1.2 mln
    ** Stock has risen 3.2% YTD, as of last close

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))