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BUZZ-Australia's Minerals 260 hits nearly 2-1/2-year high on receiving funding package

Reuters
02/23
BUZZ-Australia's Minerals 260 hits nearly 2-1/2-year high on receiving funding package

** Shares of Minerals 260 MI6.AX jump as much as 33.3% to A$0.56, highest since September 18, 2023

** Stock marks strongest intraday pct gain since July 11, 2022

** Diversified miner signs A$220 mln ($156.00 mln) strategic funding package with Franco-Nevada Corp FNV.TO for onshore Bullabulling Gold Project

** Under deal, Franco-Nevada Australia to increase its total royalty over the project to 2.45% from 1%

** About 11.1 mln shares change hands, 1.6x the 30-day avg volume of 7 mln shares

** YTD, stock up 27.4%, including the day's moves

($1 = 1.4102 Australian dollars)

(Reporting by Shivangi Lahiri in Bengaluru)

((shivangi.lahiri@thomsonreuters.com))

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