Australia's Middle Island Resources hits over 2-year high on buying Konstantin Resources

Middle Island Resources

02/09/2025 05:00

** Shares of Australia's Middle Island Resources MDI.AX nearly double in value to A$0.039, their highest level since May 16, 2023; stock last up 80%

** Mineral explorer acquires 100% stake in Konstantin Resources

** Konstantin Resources has 14 exploration and mining licences in Serbia

** Middle Island Resources to raise A$3.4 million ($2.21 million) via placement to support exploration programme

** Placement at an issue price of A$0.017 per share, representing a discount of 15% to stock's last close

** About 30.3 mln shares change hands, 67.1x times the 30-day average of 481,102 shares

** Stock has tripled in value so far this year

($1 = 1.5389 Australian dollars)

(Reporting by Anjali Singh in Bengaluru)

((anjali.singh2@thomsonreuters.com;))