Zeotech sees worst day in nearly 5 months, buys kaolin clay project in Queensland

Zeotech

23/08/2021 04:28

** Industrial kaolin clay processor's shares  ZEO.AX  fall
as much as 16.1% to A$0.09; biggest intraday pct loss since
April 6
    ** Company to buy Kalotech https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02410259-6A1046700?access_token=83ff96335c2d45a094df02a206a39ff4
 Pty Ltd for A$2.59 mln ($1.85 mln); to get mining license for
Toondoon kaolin project in Queensland, as part of deal
    ** ZEO to offer 37 mln fully paid ordinary shares at
A$0.07/shr for deal
    ** About 8 mln shares change hands, about 3.4x 30-day avg
volume
    ** ZEO was on a trading halt on Aug. 20
    ** Company's shares have almost doubled so far this year, as
of last close on Aug. 19

 ($1 = 1.3966 Australian dollars)

 (Reporting by Dhriti Garg in Bengaluru)
 ((Dhriti.Garg@thomsonreuters.com))