Australian miner Cazaly surges on triggering option for gold project stake

Cazaly Resources

25/03/2025 04:00

March 25 (Reuters) - ** Shares of Cazaly Resources CAZ.AX surge 23% in their biggest intraday jump gain since May 2024; stock at 1-month high

** Miner exercises option for earn-in in JV with Brightstar Resources BTR.AX for up to 80% stake in Goongarrie gold project by funding exploration costs of up to A$3 mln

** Brightstar shares down 5% on the day, set for first drop in five sessions

** CAZ vol of ~4.4 million shares is 8.6x the 30-day avg

** CAZ has now jumped 33% YTD, while BTR is down 5%

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)

 ((JasmeenAraIslam.Shaikh@thomsonreuters.com;))