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BUZZ-Australia's Magnum Mining jumps on share sale, Nasdaq listing plans

Published 07/05/2021, 01:21 pm
Updated 07/05/2021, 01:24 pm

** Shares of Magnum Mining and Exploration Ltd MGU.AX surge as much as 22.6% to A$0.19, their highest since April 23

** Stock last up 12.9%, on course for the best session since April 20

** The mineral exploration company says it has reached agreements to raise A$6 mln ($4.67 mln) via a private placement of 40 mln shares at A$0.15 apiece Says the company is working with NY based advisors, RK Equity Advisors LLC and Pickwick Capital Partners LLC, to undertake a cross listing on NASDAQ International in the second half of 2021

** The benchmark S&P/ASX 200 index .AXJO climbs 0.33%

** As of last close, the stock had soared 192.5% this year ($1 = 1.2857 Australian dollars) (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)

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