** Shares of Forrestania Resources FRS.AX rise as much as 9.6% to A$0.285, their highest level since December 1

** Gold explorer heading for best day since November 21, if gains hold

** Co buys three mining leases and one exploration licence from Beacon Minerals BCN.AX for A$50,000 ($33,555.00) to expand its Mt Dimer project hub in Western Australia

** Also acquires pre-emptive rights on Beacon’s remaining Mt Dimer tenure comprising two mining leases and four miscellaneous licences for A$150,000

** Beacon shares fall 0.7% to A$2.7

** Forrestania up ~1,900% this year, including the day's move, while Beacon is up ~208%

($1 = 1.4901 Australian dollars)

(Reporting by John Biju in Bengaluru)

((John.Biju@thomsonreuters.com;))