Australia's Triton Minerals soars after selling graphite assets

Triton Minerals

09/12/2024 05:18

** Shares of Triton Minerals  TON.AX  rise as much as 28.6%
to A$0.009, their biggest intraday pct jump since mid-September 
    ** Stock hits its highest level since Nov 26
    ** Triton ends session 14.3% higher at A$0.008
    ** Specialty miner says its unit has signed share sale and
purchase agreement with China-based firm Shandong Yulong Gold
 601028.SS  to divest 70% of its graphite assets in Mozambique
for A$17 mln ($10.85 mln)
    ** Says proceeds from divestment to fund exploration of
TON's recently acquired Aucu copper and gold project in
Mozambique
    ** Around 10.9 mln shares change hands, 12.4 times the
30-day avg
    ** Shares of Shandong down 4.7% as of 0459 GMT
    ** TON down 65.2% YTD, Shandong up 25.6%
($1 = 1.5672 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))