BUZZ-Australia's Pacgold gains on gold mine acquisition from GBM Resources

Reuters

12/04

** Shares of Australia's Pacgold PGO.AX rise as much as 4.9% to A$0.064

** Stock set for its strongest trading session in a week, if current trends hold

** Mineral explorer acquires White Dam Gold Operation from GBM Resources GBZ.AX for A$1.2 million ($792,600.00)

** The White Dam Gold Operation is a gold mine in South Australia; the company expects operations to be fully operational by December

** GBZ shares down 6.1%

** PGO drops 14.7% YTD, including the day's moves

($1 = 1.5140 Australian dollars)

(Reporting by Aamir Sheik Khalid in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))

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