BUZZ-Australia's Echelon Resources jumps on exploration permit deal

Reuters

2025/01/15

** Shares of Echelon Resources ECH.AX rise 7.5% to A$0.36, posting their biggest intraday pct gain since Oct. 8, 2024

** Energy explorer and producer says it executed deal with London-listed Mosman Oil and Gas MSMN.L for 100% interest in an exploration permit in Amadeus Basin, Central Australia

** Says purchase price A$400,000 ($247,640)

** Stock hits highest level since mid-December

** Stock gained 9.6% in 2024

($1 = 1.6152 Australian dollars)

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

((Jasmeenaraislam.shaikh@thomsonreuters.com))

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