** Shares of Australia's Elementos ELT.AX rise as much as 14.9% to A$0.425, their biggest intraday percent gain since January 23

** Tin explorer updates the tungsten inferred mineral resource estimate at its Cleveland Tin Project in Tasmania by 100% to 8.49 million tonnes of 0.24% tungsten oxide grade

** Around 398,000 shares change hands, nearly 1.2x 30-day average

** ELT up 27% YTD

(Reporting by Keshav Singh Chundawat in Bengaluru)

((Keshav.singhchundawat@thomsonreuters.com))