Australia's Strategic Energy Resources surges on project acquisition from Newcrest

Strategic Energy Resources

04/05/2021 02:43

** Shares of Strategic Energy Resources  SER.AX  surge as
much as 14.9% to A$0.054, their biggest intraday pct gain since
March 30 
    ** Mineral exploration company acquires "Isa North" Copper-
Gold project in northwest Queensland from mining heavyweight
Newcrest Mining  NCM.AX   urn:newsml:reuters.com:*:nASX1TCK90
    ** Co says Newcrest will retain a First Right of Refusal to
any future transaction on the project and a 1% Net Smelter
Royalty 
    ** Adds that Isa North project comprises three exploration
licences considered prospective for Iron Oxide Copper-Gold
mineralisation
    ** Stock at its highest since April 20
    ** About 3.1 mln shares change hands, vs the 30-day average
volume of 618,000 shares
    **Stock has risen 30.6% this year, as of last close
    
  

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))