Australia's CuFe surges on deal to acquire remaining stake in Tennant copper-gold project

Cufe

Tue 03:42

** Shares of Australia's CuFe CUF.AX soar as much as 13.4%, hitting their highest level since July 23 
** Shares mark their biggest intraday pct gain since September 4
** Diversified miner says it will buy private miner Gecko Mining, which holds 45% interest in the Tennant Creek copper project in Australia's Northern Territory
** Upon completion of deal, CuFe will have sole ownership of project by consolidating its existing 55% interest with Gecko's 45% stake
** Co says total consideration of deal comprises 1.6 billion CuFe shares, with initial assay results from drilling expected in early December 2026
** Nearly 8.6 million shares change hands, about 16.5x the 30-day average 
** YTD, CUF up 90%

 (Reporting by Subhalakshmi Dey in Bengaluru)
 ((Subhalakshmi.Dey@thomsonreuters.com;))