Australia's Polymetals Resources jumps on premium investment by Metals Acquisition

Polymetals Resources

27/05/2024 02:27

** Shares of Polymetals Resources  POL.AX  rise as much as
21.8% to A$0.335, their highest since Dec. 5, 2023
    ** Stock posts its biggest intraday percentage gain since
Dec. 5
    ** Gold explorer says U.S.-based copper miner Metals
Acquisition  MTAL.N  will invest A$2.5 mln ($1.66 mln) in POL at
A$0.35 per share
    ** Investment price represents a 27.3% premium to co's last
close
    ** About 90,000 shares change hands, compared with the
30-day average volume of around 19,800
    ** Stock down 11.3% YTD, based on last close

($1 = 1.5081 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))