Australia's Maximus Resources jumps after Beacon Minerals buys stake

Pantoro Gold

30/01/2023 03:35

** Shares of gold miner Maximus Resources Ltd  MXR.AX  jump
as much as 7.7% to A$0.042 - on track for best day since Jan 16,
if gains hold 
    ** Peer Beacon Minerals Ltd  BCN.AX  says executed a deal to
acquire 19.82% stake in MXR from Pantoro Ltd  PNR.AX 
    ** Beacon to buy the stake at A$0.042 per share, a 7.7%
premium to MXR's last close on Jan. 27
    ** MXR stock hits highest level since Jan. 19
    ** Almost 5.7 mln shares change hands, about twice the
30-day average volume 
    ** MXR down 2.5%, PNR up 4.2% and BCN up 4.2% this year, as
of last close
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))