Australia's FMR Resources rises on joint venture plan for SUH's Chile project

FMR Resources

16/06/2025 03:08

** Shares of FMR Resources FMR.AX rise 2.9% to A$0.180, their highest levels since May 22

** The miner signs a conditional agreement to acquire up to 60% of the Llahuin Project, a copper-gold-molybdenum site in central Chile, owned by Southern Hemisphere Mining SUH.AX

** Under deal, co will joint venture with SUH into tenements within the project

** Announces A$2.2 million ($1.43 million) capital raising at A$0.16 per share, a discount of 8.6% to stock's last close on June 10 after which it was on a trading halt

** Earlier in the day, stock hit its highest level since November 12

** About 618,352 shares change hands, 11.9x the 30-day average of 51,953

** Stock up 16.1% YTD, including moves in current session

($1 = 1.5432 Australian dollars)

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)

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