Australia's Hammer Metals rises on Austral takeover proposal

Hammer Metals

07/08/2026 06:27

** Shares of Hammer Metals HMX.AX rise as much as 7.2% to A$0.09, their highest level since May 2, 2023
** Set to clock its best week since late-June, 2025
** The copper-gold miner on Monday received takeover proposal from Austral Resources Australia AR1.AX
** Deal values co at A$0.087 per Hammer share or approximately A$80.7 million ($56.70 million)
** Board unanimously agree Austral proposal constitutes a "superior proposal"
** About 9.2 million shares change hands, 2.1 times the 30-day avg
** Up 172% YTD, including the session's moves
     
($1 = 1.4233 Australian dollars)

 (Reporting by Anjali Singh in Bengaluru)
 ((anjali.singh2@thomsonreuters.com;))