Australia's Mount Gibson Iron jumps on agreement to buy 50% of gold project

MGX Resources

16/07/2025 01:57

** Shares of Mount Gibson Iron MGX.AX rise as much as 10% to A$0.33, posting their biggest intraday pct gain since September 12, 2024

** Miner enters into agreement to buy 50% of the Central Tanami Gold Project and adjacent exploration tenements from Northern Star Resources NST.AX for A$50 million ($32.64 million) in cash

** About 4.6 million shares change hands, compared with the 30-day average volume of 1.3 million

** YTD, shares up 11.9%

($1 = 1.5319 Australian dollars)

 (Reporting by Nichiket Sunil in Bengaluru)

 ((Nichiket.Sunil@thomsonreuters.com;))