September 13, 2018 / 12:46 AM / in 2 months

BUZZ-Australian bauxite developer Metallica Minerals jumps; co to merge with Melior Resources

** Bauxite developer Metallica Minerals Ltd jumps as much as 16.1 pct to A$0.036, its highest since Aug 27

** Co enters binding agreement to buy TSX-listed ilmenite miner Melior Resources Inc

** Metallica has agreed to acquire all of issued capital of Melior by the issue of 20 new Metallica shares for every 1 Melior share held

** Stock posts biggest intraday pct gain since April 19

** About 468,450 shares change hands, compared with the 30-day average of about 350,850 shares

** Stock down 44.6 pct this year, as of last close

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