Australia's Manas Resources buys gold projects in Cote d'Ivoire, shares rise

Turaco Gold

21/05/2021 04:08

** Shares of gold developer Manas Resources Ltd  MSR.AX 
gain as much as 71.4% to A$0.012, their highest since May 2015
    ** Co to buy gold miner Resolute Mining Ltd  RSG.AX  and its
unit Toro Gold's exploration interests in Cote d'Ivoire in West
Africa for A$4 mln ($3.1 mln) payable in cash  urn:newsml:reuters.com:*:nASXds0JX
    ** Also enters agreement with Predictive Discovery, a West
African-focused gold explorer, to restructure its existing JV
with RSG to increase co's stake in that JV to 89%
    ** Co to raise A$3.3 mln at 0.6 cps, a discount of 14.3% to
stock's last close on May 17, after which co went on trading
halt
    ** Meanwhile, RSG shares up as much as 4.1% to A$0.630
    ** MSR stock posts its biggest one-day pct jump since Sept
7, 2020, gaining 28.6% for the week in what appears to be its
biggest weekly gain since Oct 16, 2020
    ** Volumes at nearly 21 times the 30-day avg of 4.6 mln, at
94.5 mln shares
    ** Stock up 16.7% this year, as of last close

    ($1 = 1.2893 Australian dollars)

 (Reporting by Yamini C S)
 ((Yamini.CS@thomsonreuters.com;))