Australia's E79 Gold Mines hits 5-month high on Cue Metals acquisition

E79 Gold Mines

03/10/2025 03:17

** Shares of E79 Gold Mines E79.AX rise as much as 34.6% to A$0.035, a peak since their May 2

** Stock logs biggest intraday pct gain since June 20

** Stock headed for third straight weekly gain

** Mineral explorer announces acquisition of Cue Metals Pty Ltd, which owns Cue Gold Project, Western Australia

** Says the project is considered prospective for high-grade quartz reef-hosted gold deposits

** Adds it accepted commitments for A$3 million ($1.98 million) placement at an issue price of A$0.021

** About 8 mln shares change hands, 13 times the 30-day avg

** Stock last up 23.1% and up 47.6% YTD

($1 = 1.5156 Australian dollars)

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com;))