May 14, 2019 / 2:36 AM / 5 months ago

BUZZ-Australia's Fe Ltd sees best day in over 1 year on deal with unit of Macarthur Minerals

** Shares of iron ore explorer Fe Ltd surge as much as 53.9% to A$0.020, mark biggest intraday pct gain since Dec. 22, 2017

** Co secures exclusive option to acquire up to 75% interest in the Macarthur Minerals Lithium and Gold tenements located in the Pilbara region of Western Australia

** Co to raise up to A$2 mln ($1.39 mln) via placement of shares at an issue price of A$0.015 per share, a 15.4% premium to co’s last close of A$0.013

** Stock hits highest level since April 10

** About 685,702 shares change hands, compared with the 30-day average vol of 301,527 shares

** Stock up 18.2% this year, as of last close ($1 = 1.4384 Australian dollars)

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