Australia's Cassius Mining surges on favourable arbitration update

Cassius Mining

19/03/2025 01:06

** Miner Cassius Mining CMD.AX jumps 13.33% to A$0.017, hitting its highest level since March 7, after update on its ongoing international arbitration against the Ghanaian government

** Stock rose as much as 20% earlier in the day, marking its biggest intraday gain since January 22

** Co says the tribunal has found that its challenge to remove Ghana's party-appointed arbitrator was justified and admissible, leading to his resignation

** CMD had filed a claim against Ghana's govt for damages of ~$277 mln due to alleged breaches of contract and statute by govt

** Adds, the govt has since appointed a replacement arbitrator and final hearing venue has been agreed to be in The Hague

** Over 878,000 shares change hands, 1.4x the 30-day avg

** Stock up 33.3% YTD including current session

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk))