Australia's Kingfisher Mining jumps on buying multiple exploration projects

Kingfisher Mining

25/07/2025 04:21

** Shares of Kingfisher Mining Ltd KFM.AX rise 48.9% to A$0.07

** Stock set for best session since August 30, 2022, if current trends hold

** Stock rose as much as 70.2% to A$0.08, the highest level since October 2, 2024

** Diversified miner signs binding agreement with precious metals explorer Austin Metals AYT.AX to buy a portfolio of projects - ranging from early stage to advanced - including copper-gold, gold, and silver-lead-zinc projects in New South Wales

** Consideration to be satisfied via A$200,000 ($131,660) in cash, and A$200,000 in KFM shares to be issued to AYT upon completion

** Co to raise A$1.9 mln via issue of placement shares at an issue price of A$0.04 per share

** About 2.3 million shares change hands, 34.8x 30-day average volume

** Session lifts YTD gains to 75%

 (Reporting by Shruti Agarwal in Bengaluru)

 ((Shruti.Agarwal@thomsonreuters.com))