Killi Resources and East 33 Shine in a Sea of Red ASX

Team Veye | 05-Aug-2024

With most of the stocks falling like nine pins, two stocks were progressing in the face of adversity. .

The jump in stock price of East 33 Limited (ASX: E33) can be attributed to it having entered a bid implementation deed with Yumbah Aquaculture Limited. Under this, Yumbah will make an off-market takeover offer to acquire 100% of East 33's Shares for cash of $0.022 per East 33 Share. The offer price is at an attractive premium and is higher than its 12- month VWAP, 6-month VWAP, 3-Month VWAP and 75% higher than the last trading price of $0.012 on 2 August 2024.

On the other hand, Killi Resources Limited (ASX: KLI) reported encouraging results of the pole-dipole Induced Polarisation (IP) geophysical survey conducted at its 100% owned Mt Rawdon West Project. Significant chargeability anomalies were identified confirming Gold-copper drill targets at the project

Source: Company's Report

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