August 17, 2016 / 2:32 AM / a year ago

BUZZ-Australia's Gryphon Minerals up on court nod on Teranga Gold bid

** Gold explorer Gryphon Minerals Ltd rises as much as 2.3 pct to A$0.220

** As part of Canada-based Teranga Gold Corp's proposed acquisition of Gryphon Minerals, the Federal Court of Australia approves scheme

** Gryphon directors unanimously recommend its shareholders vote in favour of scheme in absence of a superior proposal

** Gryphon directors intends to vote in favour of scheme in relation to all of Gryphon shares held by them

** About 2.7 mln shares change hands, more than 1.5 times 30-day average trading volume

** Stock up 367 pct this year as of Tuesday's close (Reuters messaging:; justin.varghese.thomsonreuters.com@reuters.net)

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