Australia's Star Minerals surges after gold project acquisition in WA

Star Minerals

28/07/2022 04:55

** Shares of Australia based gold exploration company Star
Minerals  SMS.AX  rise as much as 16.3% to A$0.1, their highest
since June 28
    ** Co signs option agreement to acquire “Star of East” gold
project in Western Australia  urn:newsml:reuters.com:*:nASXZ77x5
    ** Deal is staged over a year, with initial option fee of
A$60,000 in cash
    ** Co says drilling program is set to begin immediately
    ** Stock posts its biggest intraday pct gain since June 22
    ** About 1.1 mln shares change hands, vs the 30-day average
volume of 164,878 shares
    ** Stock down 59% this year, as of last close

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))