Sultan Resources hits 5-month high on buying projects in Namibia, WA

Sultan Resources

17/09/2025 03:46

** Sultan Resources SLZ.AX soars as much as 28.6% to A$0.009, highest since April 17; Aldoro Resources ARN.AX gains 4.2% to A$0.495, highest since April 15

** Diversified miner to buy three projects in Namibia, Western Australia from Aldoro Resources

** Projects include Namibia gold project, polymetallic Narndee project, Niobe Rubidium-Lithium project in Western Australia

** Sultan Resources to issue 286.5 mln shares on one-for-one basis to Aldoro shareholders in consideration, along with A$1.5 mln ($1 mln) in deferred cash payments and A$50,000 cash deposit

** Sultan Resources stock sees busiest session since June 21, 2023, with ~12.2 mln shares traded - ~12x the 30-day avg

** SLZ last up 14.3%, taking YTD gains to 33.3%

($1 = A$1.4977)

 (Reporting by Shruti Agarwal in Bengaluru)

 ((Shruti.Agarwal@thomsonreuters.com))