Troilus Gold climbs on C$40 mln asset sale

Troilus Mining

16/11/2022 16:00

** Shares of Canadian miner Troilus Gold Corp  TLG.TO  rise
as much as 16% to C$0.57, highest in nearly four months
    ** Company to sell select properties to unit of lithium
producer Sayona Mining Ltd  SYA.AX  in all-stock deal valued at
C$40 mln ($30.07 mln)
    ** TLG says sale includes a package of 1,824 claims, which
represents an area of about 985 square km
    ** Also, Sayona will buy about C$4.8 mln worth of TLG shares
on private placement basis, increasing its stake in the company
to about 9.26%
    ** So far this year, TLG shares down ~27%
 ($1 = 1.3301 Canadian dollars)
 (Reporting by Ankit Kumar in Bengaluru)
 ((Ankit.Kumar2@thomsonreuters.com))