Sunshine Metals gain most in over 5 weeks on acquisition of gold project

Sunshine Metals

27/05/2025 03:29

** Shares of Australia's Sunshine Metals SHN.AX rise as much as 28.6% to A$0.009, their biggest intraday gain since April 16

** Stock at its highest level since May 15

** Gold and copper explorer to acquire the Sybil Epithermal Gold project located in Queensland, Australia

** Deal valued at A$1.2 million ($794,167.50)

** Around 8.3 million shares change hands, 1.3x the 30-day average volume

** Stock has fallen 12.5% this year, as of 0220 GMT

($1 = 1.5425 Australian dollars)

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com))