Australia's Mamba Exploration hits 2-1/2-month high on uranium project stake buy

Standard Uranium

27/12/2023 24:47

** Shares of Mamba Exploration  M24.AX  rise as much as
12.2% to A$0.046, their highest since Oct. 10 
    ** Stock posts its biggest intraday pct gain since Dec. 14
    ** Mineral explorer says it has signed a binding agreement
to acquire up to a 75% stake in the Canary Uranium Project in
Athabasca Basin, Canada
    ** Says firm has received commitment for A$2.75 mln ($1.88
million) share placement to fund acquisition and forward work
programme over next 12 months
    ** Says Standard Uranium  STND.V , the vendor of the Canary
Project, will operate the exploration programme on behalf of
Mamba
    ** More than 574,700 shares change hands, compared with the
30-day average volume of 80,800 shares
    ** Stock had fallen 71.7% this year, as of last close

($1 = 1.4658 Australian dollars)

 (Reporting by Megha Rani in Bengaluru)
 ((Megha.Rani2@thomsonreuters.com;))