Australia's Viking Mines jumps on Ghana unit litigation update
16/06/2022 03:33
** Shares of Viking Mines VKA.AX soar up to 16.7% to
A$0.007; best day since March 22
** Gold explorer gives updates about its unit litigation
against BXC Company Ghana Ltd and individual for its Akoase
Project in Ghana urn:newsml:reuters.com:*:nASX2Kspz
** Explorer says independent expert confirms that mining has
been undertaken at the project and the royalties are owned by
its unit
** Co says the post the expert's report court will be able
to rule on the extent of $2 mln royalty payment to co's unit
** In 2021, the court ruled in favour of the unit with BXC
Company Ghana Limited and individual liable to pay $3 mln
outstanding from the sale price
** About 4.5 mln shares have changed hands, compared with
the 30-day average of 2.5 mln shares
** Stock down 60% this year as of last close
(Reporting by Navya Mittal in Bengaluru)
((navya.mittal@thomsonreuters.com))