Labrador Gold drops on announcing sale of Kingsway project
22/04/2024 16:32
** Shares of Canadian mineral exploration firm Labrador Gold
LAB.V down 17.5% at C$0.17
** Co to sell Kingsway project in Newfoundland to peer New
Found Gold NFG.V for C$20 mln ($14.58 mln) to be paid as NFG
shares
** NFG's experience at Queensway gold project will be
critical as they explore Kingsway project and demonstrate true
potential of the district - Labrador CEO Roger Moss
** Transaction expected to close in Q3 2024
** NFG down 0.8% at C$5
** YTD, LAB up 13.8%, NFG up 7.7%
($1 = 1.3718 Canadian dollars)
(Reporting by Kabir Dweit)
((Kabir.Dweit@thomsonreuters.com;))
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