BUZZ-Australia's Native Mineral surges most in 14 months on buying gold deposits

Reuters11-08

** Shares of Native Mineral Resources rise as much as 50% to A$0.048, posting their largest intraday pct gain since late-August 2023

** Stock hits highest level since Oct. 20, 2023

** Diversified miner to acquire Far Fanning and Black Jack gold deposits in Queensland for A$18.9 mln ($12.59 mln)

** Acquisition from private entity Collins St Convertible Notes expected to provides extensive exploration potential and significant upside to gold production

** More than 3.7 mln shares change hands, 7 times the 30-day avg of about 534,000 shares

** Stock up 50% YTD, as of 0120 GMT

($1 = 1.5006 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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