Australia's Strike Resources eyes best day since Oct 22 on divestment

Strike Resources

03/01/2024 03:59

** Shares of iron ore miner Strike Resources  SRK.AX  rise
as much as 34.69% to A$0.07, their highest since July 28, 2023
    ** Shares up 26.53%, set for their best day since Oct. 22,
if gains hold
    ** Co entered into agreement with Miracle Iron Holdings for
sale of 100% of share in its unit, Strike Iron Ore
    ** Says agreement to divest Paulsens East Iorn Ore Project
in WA, owned by the unit for A$20.5 million ($13.85 million)
    ** Says part of the sale proceeds to fully discharge the
$7.2 million load owned by co, among others
    ** 166,202 shares change hands, about 1.9 times its 30-day
average volume
    ** Stock down 47.9% in 2023


($1 = 1.4797 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))