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Shares of Singapore’s renewable energy firm Think Environmental <THEC.SI> rose 7% on Tuesday after it said it had signed an agreement that would allow it to obtain rights to gold mines in west Africa.
At 0146 GMT, shares of Think Environmental were traded at $0.61 with over 4.4 million shares changing hands.
The Think Environmental signed an agreement with Mornington Offshore, which would allow it to buy the rights to gold mines in Mali, in western Africa. The firm did not say how much the mines would cost or how it would raise the funds.
“The company recently changed its business not too long ago, so this is a pretty positive development for the firm. Although details are not too clear yet, it looks like a step in the right direction,” said a local trader.
