November 20, 2017 / 2:55 AM / a year ago

BUZZ-Australia's Altona Mining hits 4-mth high; Canada's Copper Mountain to buy co

** Copper miner Altona Mining Ltd’s shares rise as much as 20.83 pct to A$0.145, their highest since July 17

** Canada’s Copper Mountain Mining Corp to acquire Altona Mining for A$93 mln ($70.2 mln); Altona Mining to become unit of Copper Mountain

** Total consideration offered to Altona represents 17 Australian cents per share, which is a 41.7 pct premium to Altona’s closing price of A$0.12 a day prior to signing of the deal, the companies say

** Altona Mining stock posts its biggest intraday pct gain since June 26, 2015

** About 1.6 mln shares change hands, compared with the 30-day average of 331,002 shares

** Up to Friday’s close, stock had fallen 11.1 pct this year ($1 = 1.3245 Australian dollars)

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