Australia's Santa Fe Minerals skyrockets on gold project acquisition

Santa Fe Minerals

03/07/2025 04:58

** Shares of Santa Fe Minerals SFM.AX up 368% to A$0.145 apiece, highest level since April 2022

** Earlier, stock rose as much as 416% to A$0.16, marking its biggest intraday pct gain ever

** Gold and base metals explorer to acquire Eburnea gold project in Côte D'ivoire from gold explorer Turaco Gold TCG.AX

** TCG up 3.3% at A$0.475 as at 0353 GMT

** SFM says it received binding commitments to raise A$1.2 million ($788,640.00) at A$0.05 per share, a 61.3% premium to the closing price on June 26

** About 1.45 mln shares change hands, its busiest session ever

($1 = 1.5216 Australian dollars)

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com))