Australia's Pantoro rises on divesting lithium, base metal rights of WA project

Pantoro Gold

10/11/2023 24:17

** Shares of gold producer Pantoro  PNR.AX  rise as much as
23.1% to A$0.048, their highest level since Sept. 12
    ** Co executes binding agreement with diversified resources
co Mineral Resources  MIN.AX  
    ** Under deal, PNR to divest lithium, nickel, copper, and
cobalt rights on its Norseman gold project in Western Australia 
    ** PNR says deal for up to A$60 mln ($38.17 mln) in cash
consideration plus royalties
    ** Pantoro among top gainers in the ASX all ordinaries index
 .AORD 
    ** Shares of MIN fall as much as 1.70% to A$58.870    
    ** PNR down 59.4% YTD, as of last close 
   
($1 = 1.5721 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))