Australia's Terra Uranium surges on New South Wales tungsten project acquisition

Terra Critical Minerals

02/07/2025 03:59

** Terra Uranium T92.AX shares soar 37.9% to A$0.040

** Earlier, stock rose as much as 55.2% to A$0.045, its highest level since March 19, biggest intraday pct gain since Jan 15

** Mineral explorer to acquire Dundee Resources Pty Ltd, owner of largest undeveloped tin, tungsten and molybdenum deposit in New South Wales

** Deal consideration stands at A$20,000 cash, along with issue of 10 mln option shares and 3 mln performance rights

** T92 to raise A$865,000 ($567,959.00) via placement at A$0.03 per share, slight premium to last close

** Stock up 12.5% YTD, including the day's move

($1 = 1.5230 Australian dollars)

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com))