Australia's Grand Gulf Energy rises on Sage Potash collaboration for US project

Sage Potash

13/05/2025 03:19

** Shares of Grand Gulf Energy GGE.AX rise 33.3% to A$0.004

** Stock hit its highest level since October 24, 2024

** The oil and gas explorer signs a memorandum of understanding with potash developer Sage Potash SAGE.V to collaborate on exploration activities within an area of mutual interest at Red Helium project in Utah, United States

** Under the MoU, the parties agree to share costs of a proposed 3D seismic survey targeting helium and potash

** MoU with Sage Potash has the potential to reduce the cost of future exploration and development activities at the Red Helium Project, says Grand Gulf

** About 25.5 million shares change hands, 5.2x the 30-day average volume

** Stock up 50% this year, as of last close

 (Reporting by Sherin Sunny in Bengaluru)

 ((Sherin.Sunny@thomsonreuters.com;))