Australia's Anax Metals soars on $66.4 million investment

Anax Metals

05/05/2025 02:10

** Shares of Anax Metals ANX.AX rise 140% to A$0.012, their highest level since December 31, 2024

** Diversified miner says Mineral Development Partners agreed to invest up to A$103 million ($66.36 million) in it

** Investment to earn up to a 19.99% interest in Anax and up to an 81% interest in Whim Creek Metals, a unit that has an 80% interest in the Whim Creek Joint Venture

** JV is focused on development of the Whim Creek Copper-Zinc Project in the Pilbara region of Western Australia

** Over 27 million shares change hands vs the 30-day average of 1.5 million

** Stock rose as much as 160% earlier in the day, marking its biggest intraday gain since June 4, 2019

** ANX down 58.3% YTD

($1 = 1.5521 Australian dollars)

(Reporting by Adwitiya Srivastava in Bengaluru)

((Adwitiya.Srivastava@thomsonreuters.com))