Australia's Focus Minerals soars on sale of WA project

Focus Minerals

26/05/2025 02:24

** Shares of Focus Minerals FML.AX rose as much as 160.9% to A$0.600, their highest since September 20, 2016; last up 117.4%

** Stock set for record strongest session - if current trends hold

** Gold producer agrees to sell its Laverton Gold Project in Western Australia (WA) to Genesis Minerals GMD.AX for A$250 million ($162.60 million)

** About 4.1 shares traded in stock's busiest session since March 20, 2015

** Shares of GMD up 1.3%

** Stock up 194.1% YTD, including current session's moves

($1 = 1.5375 Australian dollars)

(Reporting by Manasi Dasa in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com;))