December 14, 2015 / 2:47 AM / 2 years ago

BUZZ-Australia's Champion Iron rises on Bloom Lake Mine acquisition by unit

** Champion Iron Ltd rises as much as 34.6 pct to A$0.175, its highest since Nov 23

** Stock on track for its biggest percentage gain since Feb 17

** Says Canadian unit Quebec Iron Ore signs agreement to buy Bloom Lake Mine and related rail assets

** To raise up to C$25 mln ($18.2 mln) to fund the acquisition

** Champion shares down about 32 pct this year as of Thursday's close; company sought trading halt on Friday pending announcement of the acquisition

$1 = 1.3746 Canadian dollars Reuters Messaging: rushil.dutta.thomsonreuters.com@reuters.net

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