Australia's Renegade Exploration jumps on divesting project stake

Renegade Exploration

09/06/2021 04:20

** Shares of Renegade Exploration  RNX.AX  surge as much as
33.3% to A$0.008, eyeing its best session since Jan. 20
    ** Mineral explorer to divest its joint venture interest in
the Yandal East Project in Western Australia to Strickland
Metals Ltd  STK.AX  for cash, shares and a net smelter royalty
    ** Strickland to pay co A$400,000 ($309,680) on deal
completion and A$400,00 six months after close; STK will also
issue 40 mln shares to Renegade
    ** Zebina Minerals Pty Ltd is the joint venture partner in
the project  urn:newsml:reuters.com:*:nASXbz5hhX
    ** Stock at its highest since May 26
    ** Stock down 14.3% this year, as of last close
    
  


($1 = 1.2917 Australian dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))