Australia's Paterson Resources jumps on sale of units for $1.9 mln

Paterson Resources

24/05/2024 04:01

** Shares of Paterson Resources  PSL.AX  rise as much as 25%
to A$0.015; set for best day since March 26, if gains hold     
    ** Diversified miner says it sold off units Burraga Copper,
BC Exploration and Old Lloyds Mine to Octo Mining Burraga
    ** All 3 units sold for total A$2.9 million ($1.91 million)
    ** Units hold licenses and land that form the Burraga
Copper-Gold project in New South Wales
    ** Stock hits highest level since May 8    
    ** Over 1.8 mln shares change hands, compared with the
30-day average volume of 373,592
    ** Stock set for best week since Nov. 24, 2023
    ** PSL down 52% YTD, as of last close


($1 = 1.5163 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))