Endeavour backs Altair with $28M stake, shares jump

Endeavour Mining agreed to take a 9.9% stake in Altair Minerals via a A$28.2m private placement, buying shares at A$0.043 each. Altair shares jumped over 34% to A$0.055, a 12‑month high, lifting market cap to A$336.71m (about US$242m). The funding will expand drilling at the Greater Oko gold project in Guyana to 50,000 metres (from 30,000m) and leaves Altair with roughly US$40m pro forma cash. Endeavour’s technical support and the deal follow broader consolidation and investor interest in Guyana gold assets, potentially boosting sentiment for junior gold explorers and the wider gold sector. The transaction signals strong institutional backing for exploration activity, which could support risk appetite into gold-related equities and be modestly positive for gold-market sentiment.