Lion Selection to Lift Stake in Koonenberry; Shares Hit All-Time High

MT Newswires Live

2025/05/22

Lion Selection Group (ASX:LSX) said it will invest AU$1 million in Koonenberry Gold (ASX:KNB) through a share placement, increasing its stake in the gold explorer to about 6.8%, according to a Thursday filing with the Australian bourse.

The placement, priced at AU$0.06 per share, follows strong drilling results at Koonenberry's Enmore project in northern New South Wales, the filing said.

Lion Selection Group's shares rose nearly 3% in recent Thursday trade, earlier hitting an all-time high, while Koonenberry Gold's shares surged almost 10%.

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