April 1, 2019 / 11:55 PM / 7 months ago

BUZZ-Australia's Jervois Mining jumps on acquiring Canada-based eCobalt

** Shares of cobalt explorer Jervois Mining Ltd rise as much as 10.9 pct to A$0.255, marking their biggest intraday pct gain since March 7

** Jervois acquires Canadian peer eCobalt Solutions Inc to expand to the U.S. market by getting access to its Idaho cobalt project

** Total consideration of deal is C$57.6 million ($43.27 million)

** Under agreement, each common share of eCobalt will be exchanged for 1.65 common shares of Jervois, which represents an implied offer price of C$0.36 per eCobalt share

** Stock hits highest since March 15

** Over 321,280 shares of co change hands within an hour of trade, compared with the 30-day average volume of about 319,000 shares

** Stock up 15 pct this year, as of last close ($1 = 1.3311 Canadian dollars)

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