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BUZZ-Australia's Advance Metals soars on buying gold and silver projects

ReutersJan 6, 2025 1:09 AM

** Advance Metals AVM.AX soars as much as 26.5% to A$0.043; biggest intraday pct gain since late-October 2024

** Stock hits highest since Nov. 7, 2024

** Specialty miner enters into JV with Canada-based Serra Energy Metals SEEM.CD to buy 80% interest in Myrtleford and Beaufort gold projects in Australia for C$400,000 ($277,181)

** Signs binding deal with Sailfish Royalty FISH.V to buy 100% interest in Gavilanes silver project in Mexico

** Co will pay $50,000 in cash and issue 16.8 mln shares for Gavilanes project

** More than 5.6 mln shares traded, 6.6x the 30-day avg

** Stock up 14.7% YTD

($1 = C$1.4431)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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