BUZZ-Australia's Troy Resources up; Magellan Minerals makes deposit for Andorinhas assets

Thu Sep 24, 2015 11:27pm EDT
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** Gold miner Troy Resources Ltd rises as much as 3.5 pct to AUD 0.295, its highest since Sept 9

** Magellan Minerals Ltd pays Troy non-refundable deposit of $150,000 for purchase of gold processing plant, associated equipment and mining fleet at Andorinhas mine in Brazil

** Says has time until Dec 15 to pay a further $3.4 mln, after which it will take possession of Andorinhas assets

** About 943,000 Troy shares change hands, compared with the 30-day average of 404,000 shares

** Stock down about 38 pct this year as of Thursday's close (Reuters Messaging: