Australia's Rapid Critical Metals gains on silver project acquisition

Lode Resources

01/09/2025 03:30

** Shares of Rapid Critical Metals RCM.AX rise as much as 22.6% to A$0.038, their highest level since May 22

** Stock marks its biggest intraday pct rise since July 14

** Miner says it entered binding agreement with ASX-listed Lode Resources LDR.AX to acquire 100% of Webbs Consol silver project in northeast New South Wales (NSW)

** Deal for total consideration of A$3.75 million ($2.44 million) and 115 million RCM shares

** About 12.4 million shares change hands, 3.5x the 30-day average volume

** YTD, stock has fallen 40%

** Shares of Lode Resources down 1.7% at A$0.1475 on Monday

($1 = 1.5389 Australian dollars)

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com;))