Australia's Altair Minerals hits 2-year high on buying Guyana gold project stake

Altair Minerals

05/08/2025 05:01

** Shares of Altair Minerals ALR.AX up 10% after earlier surging as much as 40% to A$0.007, their highest level since May 25, 2023

** Mineral explorer to acquire up to 70% of Greater Oko gold project in Guyana from Adamantium Exploration

** Raises A$3.2 mln ($2.07 mln) at A$0.004/share via placement, a 20% discount to July 31 close

** Trading volume at about 65.5 mln shares, stock's busiest day since mid-March 2021 and nearly 15x 30-day avg

** YTD, ALR up nearly 120%, including the day's move

($1 = 1.5487 Australian dollars)

 (Reporting by Ananya Verma in Bengaluru)

 ((ananya.verma@thomsonreuters.com))