Australia's Calidus Resources hits 6-year high on gold mine acquisition

Novo Resources

21/09/2020 01:40

** Shares of gold explorer Calidus Resources  CAI.AX  rise
as much as 13.8% to A$0.66, their highest since Sept 2014
    ** Says signed binding agreement with Canada-based gold
explorer Novo Resources Corp  NVO.V  to acquire Blue Spec
Gold/Antimony Project in Pilbara region of Western Australia (https://bit.ly/35Xh3ML)
    ** Acquisition for a cash consideration of A$19.5 mln
($14.22 mln)
    ** Stock marks best session since June 1; set for a fifth
straight session of gains
    ** About 842,400 shares change hands, compared with the
30-day average of 736,346
    ** Stock more than doubled this year, as of last close,
rising 136.7%

    ($1 = 1.3712 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))