Australia's TG Metals gains on gold project buy in Western Australia

TG Metals

06/03/2025 24:35

** Shares of TG Metals TG6.AX rise 38.1% to A$0.14, their highest level since January 13

** Mineral resource explorer says it acquired 80% of the Van Uden Gold Project in Western Australia

** Deal for an upfront cash payment of A$2.5 million ($1.58 million) and issue of 5.7 mln fully paid ordinary shares in co

** Stock rose as much as 71.4% earlier in the day, marking its biggest intraday gain since October 30, 2023

** TG6 down 10% YTD

($1 = 1.5785 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)

 ((Adwitiya.Srivastava@thomsonreuters.com))