Australia's Somerset Minerals leaps on acquisition of Canadian project

Somerset Minerals

10/12/2024 01:00

** Shares of diversified miner Somerset Minerals  SMM.AX  rise
as much as 30.8% to A$0.017, set for biggest one-day pct gain
since mid-Oct
** Co enters conditional agreement to acquire the Coppermine
project situated in the Canadian province of Nunavut
    ** Co will have land package consisting of 1,055 sq. km of
prospective Copper Creek Formation basalts upon completion of
deal
    ** Stock hits highest level since mid-Nov
    ** 1.8 million shares change hands, compared with the 30-day
average volume of 321,848
    ** Stock has fallen 48% this year, as of last close

(Reporting by Nichiket Sunil in Bengaluru)
((Nichiket.Sunil@thomsonreuters.com))