Australia's Hammer Metals soars on copper hits at Queensland project

Hammer Metals

14/10/2021 02:20

** Shares of base metals explorer  HMX.AX  climb as much as
14.8% to A$0.1, hitting their highest since Sept. 24
    ** HMX reports strong copper hits from drilling at its Mt
Isa project in Queensland  urn:newsml:reuters.com:*:nASX64hlBq
    ** Stock posts its biggest intra-day pct gain since May 18
    ** Co says the best results, which come from the Lakeview
prospect of the project, include an 18-m hit grading 1.7% copper
and 0.49 grams of gold per tonne from 61 m
    ** Says with high copper prices and a growing inventory, HMX
is "well-placed" to move from exploration to development
    ** Co says it has a drill rig locked in place for the end of
October to follow up results from across the Mt Isa project
    ** Stock up 90.6% YTD, as of last close 
    


 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))