Australia's Mayur Resources jumps as billionaire Harvey picks major stake

Harvey Norman Holdings

10/03/2025 24:13

** Shares in Australia's Mayur Resources MRL.AX gain 5.6% to A$0.285

** Stock rose as much as 6.5% earlier in the day

** Shares gain after businessman Gerry Harvey emerged as a major investor in the Papua New Guinea focussed firm

** Harvey is founder and chairman of electronics retailer Harvey Norman HVN.AX

** Harvey, through his investment vehicle Velrosso, has amassed a 6.7% stake in Mayur Resources

** Stock down 5.3% this year, as of last close

 (Reporting by Rishav Chatterjee in Bengaluru; Editing by Christopher Cushing)

 ((Rishav.Chatterjee@thomsonreuters.com;))