Australia's Aksari Metals rises to over 1-week high on unit sale

Forrestania Resources

12/09/2025 01:58

** Shares of Askari Metals AS2.AX rise as much as 11.1% to A$0.010, their highest level since September 3

** The diversified miner enters into an agreement with mineral explorer Forrestania Resources FRS.AX to sell 100% stake in its unit First Western Gold Pty for A$700,000 ($466,270)

     ** Deal to provide immediate funds to complete acquisition and start development of Nejo project Ethiopia, says co

** First Western holds 7 exploration licenses and 1 exploration license application in WA, including the Burracoppin Gold Project

** About 1.3 million shares change hands, 1.6x times the 30-day avg

** Stock down 25% YTD, including the session's moves

($1 = 1.5013 Australian dollars)

 (Reporting by Anjali Singh in Bengaluru)

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