Australia's BPM Minerals hits record high on acquiring Recharge Resources

BPM Minerals

19/05/2021 02:43

** Shares of BPM Minerals Ltd  BPM.AX  rise as much as
176.2% to record A$0.580 
    ** Diversified explorer enters into a binding Heads of
Agreement to acquire Recharge Resources Pty Ltd from
Melbourne-based Borg Geoscience Pty Ltd  urn:newsml:reuters.com:*:nASXgV0VJ
    ** Recharge holds four exploration licences and applications
in Western Australia and one exploration license in Southern
Australia
    ** BPM says acquisition will be supported by a proposed
A$1.5 mln ($1.17 mln) private placement 
    ** Stock posts its biggest intraday pct gain since its
listing in December 2020
    ** Nearly 10 mln shares change hands, vs the 30-day average
volume of about 206,000 shares
    
($1 = 1.2840 Australian dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))