Australia's Terracom rises after $10 mln payment, withdrawal from Guinea operations

Terracom

16/05/2022 01:57

** Shares of the coal miner  TER.AX  jump as much as 5.3% to
A$0.6
    ** Terracom confirms receipt of $10 mln related to its
Prepayment Term Sheet signed in Feb 
    ** Adds that remaining $30 mln to be received on or before
May 27
    ** Co also to withdraw from all interests in the Republic of
Guinea, no longer seeking to progress any opportunities or
potential projects within the jurisdiction
    ** Co remains on track to declare dividend for the period
ending June 30, 2022, says Executive Chairman Craig Ransley
    ** Stock up more than threefold in value this year, as of
last close
    

 (Reporting by Indranil Sarkar in Bengaluru)
 ((Indranil.Sarkar@thomsonreuters.com;))