Australia's Kingfisher Mining gains on mining agreement with Broken Hill Mines

Shares of Kingfisher Mining KFM.AX rise as much as 12.7% to A$0.089, their highest level since February 6

Kingfisher Mining & Broken Hill Mines BHM.AX enter strategic mining & processing agreement

Under agreement, KFM's high-grade Broken Hill tenement portfolio to be mined and processed exclusively by BHM at its 100% owned Rasp Mine Processing Plant

Agreement provides KFM access to BHM's infrastructure, workforce, logistics networks, metallurgical expertise, and marketing capabilities, adds co

About 467,647 shares change hands, 3.2x the 30-day average

However, shares of BHM down as much as 5.8% at A$1.05

YTD - KFM and BHM down 5.3% and 9%, respectively, including the day's move