Australia's Hammer Metals rises on stake sale plan in Mount Hope sub-blocks

Carnaby Resources

02/04/2024 04:49

** Shares of Hammer Metals  HMX.AX  rise as much as 21.1% to
A$0.046, their biggest intraday pct gain since Feb. 14
    ** Stock at its highest level since Feb. 22
    ** Diversified miner says it will sell 70% interest in three
sub-blocks at Mount Hope in Queensland to Carnaby Resources
 CNB.AX  for up to A$20 mln ($13 mln)
    ** About 1.6 mln shares change hands, 2.6x the 30-day avg
volume
     ** Stock down ~27% YTD, as of last close


($1 = 1.5399 Australian dollars)

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))