Australia's White Energy jumps 13% on acquiring mining firm

White Energy

13/12/2022 03:14

** Shares of White Energy Company Ltd  WEC.AX  rise as much
as 13.3% to A$0.255, their biggest intraday percentage gain
since Nov. 29
    ** Says it acquires Fiddlers Creek Mining Company Pty Ltd,
which owns projects prospective for copper, rare-earths, zinc
and gold in Australia's Northern Territory and Queensland states
    ** Deal for 4 million ordinary shares of WEC; agreement also
provides for future milestone payments of up to A$4 million 
    ** WEC down 94.8% YTD, as of last close 
 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))