Australia's Blackstone Minerals rises on buying Philippine copper-gold project

Blackstone Minerals

06/02/2025 01:06

** Shares of Blackstone Minerals  BSX.AX  rise 10.3% to
A$0.032, their strongest gain since early October 2024
    ** Mineral explorer rose as much as 27.6% earlier in the day
to hit highest level since September 30
    ** Co to acquire Mankayan copper-gold project in the
Philippines under a deal with copper and gold explorer IDM
International
    ** Under deal, co will acquire 100% of IDM in an all-share
transaction
    ** Says project constitutes one of the largest high-grade
undeveloped copper-gold porphyry systems globally
    ** Mankayan project offers investors a hedge against market
volatility through significant exposure to precious metals - co
    ** About 5.6 mln shares change hand compared to 30-day
average trading volume of 944,200 shares 
    ** Stock up 3.6% this year as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))