Silver City Minerals shines after saying it'll buy 80% stake in Western Australia gold project

Austin Metals

07/04/2021 02:40

** Shares of Silver City Minerals  SCI.AX  jump as much as
88.9% to A$0.034 in their biggest intraday pct gain since May
11, 2016
    ** Precious metals explorer says it will acquire an 80%
stake in Austin gold project located in Western Australia from
Gardner Mining Pty  urn:newsml:reuters.com:*:nASX33Wtjh
    ** Says project comprises a large portfolio of granted
mining leases and exploration licences
    ** Stock trading at its highest since July 23, 2018
    ** About 67.8 mln shares change hands, compared with the
30-day average volume of 951,000 shares
    ** Stock had declined 5.3% this year by last close
($1 = 1.3033 Australian dollars)

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))