Australia's Askari Metals rises to one-month high on buying gold project in Ethiopia

Highland Metals

08/07/2025 04:08

** Shares of Askari Metals Ltd AS2.AX rise 14.3% to A$0.008, their highest since June 6

** Lithium-uranium miner buys the Nejo gold project in Ethiopia by acquiring Xingxu Mining International Investment, which owns the project

** Askari will pay A$200,000 ($130,320) upfront, A$200,000 in Askari shares, and issue 20 mln unlisted options exercisable at 6 AU cents over 3 years

** Around 4.4 mln shares change hands, over 3x the 30-day average trading volume of about 1.3 mln

** YTD, stock down 33.3%, including the session's gains

 (Reporting by Shruti Agarwal in Bengaluru)

 ((Shruti.Agarwal@thomsonreuters.com))