Macro Metals' (ASX:M4M) subsidiary, FE Metals, and its partner, WA Limestone, completed the joint acquisition of the Derby East project in Western Australia from Thunderbird Operations, a subsidiary of Kimberley Mineral Sands, according to a Tuesday filing with the Australian bourse.
The total consideration for 100% of legal and beneficial interest in the project was AU$125,000, the filing said.
FE Metals and WA Limestone each secured a 50% interest in the project for AU$62,000, according to the filing.
Macro Metals shares were up 14% in midday trade on Tuesday.
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