Australia's Western Mines Group rises on tenement acquisition

Western Mines

08/10/2021 02:05

** Nickel-copper miner Western Mines Group Ltd  WMG.AX 
gains as much as 7.3% to A$0.22
    ** Co to buy https://www.asx.com.au/asxpdf/20211008/pdf/451fj8qvj2sr0s.pdf
 100% of highly prospective tenement 'E39/2073', adjacent to its
Jasper Hill project area in Western Australia
    ** Co says purchase consideration consists of A$50,000 
($36,590.00) in cash, 350,000 shares, 700,000 options and 1% net
smelter royalty
    ** Stock posts its biggest intraday pct gain since Sept. 30
    ** As of last close, stock had risen 7.9% since it started
trading on July 20

($1 = 1.3665 Australian dollars)

 (Reporting by Aditya Munjuluru in Bengaluru)
 ((aditya.srivastsav@thomsonreuters.com))