Australia's Xanadu Mines climbs on copper-gold growth at Mongolia project

Xanadu Mines

08/12/2021 03:56

** Shares of copper and gold explorer Xanadu Mines  XAM.AX 
rise as much as 5.8% to A$0.028, their highest since Nov. 26
    ** XAM delivers https://www.asx.com.au/asxpdf/20211208/pdf/453y0ly94696jj.pdf
 its medium-term aspirational targets to grow mineral resource
at its flagship copper-gold project at Kharmagtai in Mongolia to
1.1 billion tonnes including a higher-grade component of about
100 Mt
    ** Says 1.1 bln tonnes of Kharmagtai resource contains 3 Mt
copper and 8 Moz gold
    ** Co adds Kharmagtai has the potential to become a leading
global supplier of copper 
    ** Nearly 2.5 mln shares have changed hands, compared with
the 30-day average of about 2.1 mln shares 
    ** Stock down ~31.6% this year as of last close 
    


 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))