Australia's Kin Mining hits 1-year high on sale of gold deposits

Patronus Resources

14/12/2023 01:10

** Shares of Kin Mining  KIN.AX  rise as much as 16.7% to
A$0.070, their highest level since Dec 15, 2022
    ** Gold miner receives A$53.5 mln ($35.75 mln) in cash and
shares from sale of gold deposits to Genesis Minerals  GMD.AX  
    ** GMD will buy KIN's Bruno-Lewis and Raeside gold deposits
in Western Australia
    ** KIN stock marks its biggest intraday pct gain since Oct
31
    ** More than 5.3 mln KIN shares change hands, vs the 30-day
average volume of 496,227 shares
    ** GMD shares rise as much 14.1% to A$1.900; biggest
percentage gainer in the ASX 200 benchmark index  .AXJO 
    ** KIN down 7.7% YTD, as of last close, while GMD up 33.2%

($1 = 1.4963 Australian dollars)

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