Australia's Alvo Minerals gains on gold-copper project buy in Brazil

Pan American Silver

31/03/2025 03:49

** Shares of Alvo Minerals ALV.AX rise 16.7% to A$0.07, their highest level since March 18

** Miner says signed a non-binding letter of intent with Pan American Silver Corp PAAS.TO, to acquire 100% of the Lavra Velha Gold-Copper Project, located in Bahia State, Brazil

** 457,068 shares change hands, vs the 30-day average of 156,223

** Stock rose as much as 20% earlier in the day, marking its biggest intraday gain since Feb. 26

** ALV up 20% YTD

(Reporting by Adwitiya Srivastava in Bengaluru)

((Adwitiya.Srivastava@thomsonreuters.com))