Australia's West Cobar Metals gains on potential deal, placement

IGO

05/03/2025 02:33

** Shares of West Cobar Metals WC1.AX rise 11.8% to A$0.019

** Stock set for strongest session since February 20, if gains hold

** Mineral explorer announces potential acquisition of IGO's IGO.AX interest in three tenements of the Fraser Range Province of Western Australia, highly prospective for gold deposits

** Battery metals explorer gets commitments to raise A$450,000 ($281,115) by placement of 28.1 mln shares at A$0.016 apiece

** WC1 was on a trading halt from March 3 until Wednesday

** 3.6 mln shares change hands, three times the 30-day average of 1.2 mln shares

** Stock up 18.8% YTD, including current session's moves

($1 = 1.6008 Australian dollars)

 (Reporting by Manasi Dasa in Bengaluru)

 ((Manasi.DasaSundeep@thomsonreuters.com;))