Australia's Javelin Minerals surges 40% on buyout offer

Javelin Minerals

16/09/2026 05:00

   ** Shares of Javelin Minerals JAV.AX surge as much as 40.2% to A$0.115, their biggest intraday pct gain since November 3, 2025
   ** Stock hits highest since May 1
   ** Gold producer says it received a stock-for-stock buyout offer from FirstAU FAU.AX, implying a value of A$46.5 million  ($33.12 million) for JAV
   ** JAV shareholders to hold about 48.7% of FirstAU post-acquisition; JAV board recommends offer unanimously
** Offer implies value of A$0.1153 per Javelin share, representing a premium of 40.6% from JAV's last close, per Reuters calculations
** YTD gains at 26.6%


($1 = 1.4041 Australian dollars)

 (Reporting by Rudrannsh Mehra in Bengaluru)
 ((Rudrannsh.Mehra@thomsonreuters.com))