Australia's Gladiator Resources soars after buying gold project

US1 Critical Minerals

08/03/2022 01:50

** Shares of Gladiator Resources Ltd  GLA.AX  surge as much
as 16.7% to A$0.028, their best intraday percentage rise since
Nov. 25 
    ** Says it has exercised its option to acquire the
Rutherglen gold project in Victoria, Australia  urn:newsml:reuters.com:*:nASX5ckwZV 
    ** Project has an initial exploration target consisting of a
total gold potential of between 260,000 ounces and 529,000
ounces 
    ** Deal consideration includes final payment of A$25,000 in
cash, issuance of 5 mln fully paid ordinary shares, among others
    ** Stock hits highest level since Feb. 21 
    ** GLA has shed 29.4% YTD as of last close 
    


 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))