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BUZZ Austral Resources Australia plunges 25% on potential legal action – Reuters

** Shares of Austral Resources Australia Ltd (AR1.AX) fall as much as 25% to A$0.150 on their ASX debut

** The copper-focused explorer says it got correspondence from the solicitors of an individual, threatening legal action

** The media speculates that individual seeks to ‘reclaim’ a shareholding interest in co from its executive director’s interests – Austral Resources

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** Co refutes all claims

** Adds it was not provided with any documentation or information supporting the claims and neither has it been served with any notice of proceedings on the matter

** Trading volumes are at about 8.5 mln shares

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Reporting by Yamini C S

Our Standards: The Thomson Reuters Trust Principles.