Australia's Astute Metals jumps on stake increase by major shareholder

Venari Minerals NL

23/08/2023 06:18

** Shares of Astute Metals  ASE.AX  rise as much as 29.3% to
A$0.053, their highest since July 17
    ** Stock last up 9.8%, set for best day since May 17, if
gains hold
    ** Diversified explorer says major shareholder Holdmark
Property Group to increase stake to 19.9% by injecting A$2.063
mln ($1.33 mln)
    ** Co will issue 41.2 mln shares to Holdmark at A$0.05 per
share
    ** Separately, co says it intersected wide zones of lithium
mineralisation in first hole drilled at its Altair Project in
Nevada
    ** Stock has fallen 83% this year, as of last close

($1 = 1.5538 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))