Australia's Many Peaks Minerals rises on purchase of firm, WA gold projects

Predictive Discovery

26/03/2024 24:50

** Shares of Many Peaks Minerals  MPK.AX  rise as much as
283.6% to A$0.280, set for their best day, if gains hold  
    ** Stock hits highest level since Dec 19
    ** The mineral explorer and developer says it entered a
binding share sale agreement with Turaco Gold  TCG.AX  to
acquire its 89% interest in CDI Holdings (Guernsey), a joint
venture with Predictive Discovery  PDI.AX  
    ** Co to further consolidate 100% ownership of the joint
venture entity
    ** Says purchase consideration for CDI Holdings will be an
aggregate of 5.6 mln fully paid shares in co
    ** Says, through deal, co acquires Ferke Gold Project and
Odienne Project in Côte d'Ivoire, West Africa
    ** About 1.9 mln shares change hands, compared with the
30-day average volume of 48,298
    ** Many Peaks stock has fallen 51.3% this year, as of last
close
    

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))