Australia's Venus Metals jumps on agreement with IGO unit

Venus Metals

27/06/2022 01:46

** Shares of Venus Metals Corporation  VMC.AX  rise up to
16.7% to A$0.21, best intraday session since April 14
   ** Gold and base metals says its unit entered into a binding
transaction with a unit of IGO  IGO.AX   urn:newsml:reuters.com:*:nFWN2YC0UX
    ** Transaction is a farm-in and joint venture under which
IGO'S unit can buy up to 70% interest in the Bridgetown
Greenbushes Exploration Project in Western Australia 
    ** Co says IGO's unit to buy interest by incurring A$6 mln
($4.17 mln) of exploration expenditure on the Project
    ** Stock hits highest since June 8; up 2.9% this year as of
last close 
    



($1 = 1.4395 Australian dollars)

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))