Australia's Platina Resources jumps most in 9 months on project sale

Platina Resources

28/04/2023 06:41

** Shares of Platina Resources  PGM.AX  rise as much as
23.1% to A$0.032, on track for best session since July 27, 2022
if gains hold
    ** Mineral explorer says it has signed binding agreement
with Rio Tinto's  RIO.AX  unit to sell its wholly-owned Platina
Scandium Project in central New South Wales
    ** Says expects to realise up to $14 mln in cash from the
sale 
    ** Stock hits highest level since August 30, 2022; on track
for second consecutive session of gains 
    ** More than 13.5 mln shares change hands, compared with the
30-day average of about 499,000 shares 
    ** As of last close, stock up ~36.8% YTD
    


 (Reporting by Upasana Singh and Echha Jain in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))