Australia's Maximus Resources jumps most in more than 2 years on buyout offer

Astral Resources NL

30/12/2024 24:40

** Shares of lithium miner Maximus Resources  MXR.AX  surge
as much as 42.2% to A$0.064, their highest since mid-August 2022
    ** Co says gold explorer Astral Resources  AAR.AX  to
acquire firm in an all-share deal for A$0.07 per share
    ** Offer price represents a premium of ~56% to stock's last
close
    ** Maximus Resources says AAR will acquire ~20% stake in MXR
via a share swap with Beacon Minerals  BCN.AX  and others
issuing ~40.8 mln of its shares
    ** More than 4.4 mln Maximus Resources shares change hands,
9.7x the 30-day avg 
    ** Stock posts its biggest intraday pct gain since Jan. 11
    ** AAR slips 6.7% to A$0.140, posts its biggest intraday
percentage loss since Dec. 20
    ** Maximus Resources stock up 72.4% YTD, while AAR has
almost doubled in value

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))