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Australia’s Equus Mining gains most in 2-1/2 years, signs deal for Chile project

Alimentos, Importación, Bogotá, Colombia, Venezuela, Panamá, Panamá Papers
Australia's Equus Mining gains most in 2-1/2 years, signs deal for Chile project

New Delhi: Shares of thermal coal explorer Equus Mining Ltd surge as much as 50% to A$0.018, mark their biggest intraday pct gain since September 2016 Co says it executed a non-binding Heads of Agreement with Mandalay Resources Corp for a three-year option to acquire all mining properties, resources and mine infrastructure at Mandalay‘s Cerro Bayo project in Southern Chile Co says should it exercise its option, the consideration for completion of acquisition will be the issue of 19% of Equus’s share capital at the time of exercise to Mandalay and a 2.25% NSR on production from the Cerro Bayo mining claims Stock at its highest since March 4 Over 4.4 mln shares change hands, compared with the 30-day average volume of 1.2 mln shares Stock down 25% this year, as of last close