By Nikita Maria Jino — May 08 - 01:33 AM
• Shares of Adelong Gold falls 12.5% to A$0.007
• Stock fell as much as A$25% in early trade, their largest intraday pct loss since mid February
• Mineral explorer executes binding sale agreement to acquire 100% interest in Lauriston gold project from unit of Great Pacific Gold Corp
• Transactional terms include cash payment of A$500,000
• Also receives binding commitments to raise A$3 million via placement to fund acquisition
• Placement issue price at A$0.0055 per share, a 31.3% discount to stock's last close
• Around 13.9 million shares change hands vs 30-day avg volume of 8.2 million shares
• Stock up 40% YTD, including current session's moves
(Reporting by Nikita Maria Jino in Bengaluru)
Source:
London Stock Exchange Group | Thomson Reuters
