Gold Miner Kin Mining jumps on acquiring 20 mln shares in rival

Patronus Resources

28/09/2022 03:22

** Shares of Australia's Kin Mining  KIN.AX  rise as much as
4.5% to A$0.07, set to gain most since Aug. 10 if gains hold
    ** Shares jump after the gold miner announces that it has
acquired 20 mln shares of Australian gold producer Dacian Gold
 DCN.AX   urn:newsml:reuters.com:*:nASXbCfN7L
    ** Says purchases have been made on-market during September
2022 and represent an interest of 1.63% of the Dacian shares
currently on issue
    ** Considers that accumulating a significant interest in
Dacian Gold is a sensible strategic move and that the current
market price of Dacian shares represents good value
    ** Stock has fallen 39.1% this year, as of last close
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))