Maximus Resources Doubles in Sydney After Iron Ore Discovery
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Maximus Resources Ltd., an Australian iron ore explorer, rose by the most since it began trading in Sydney after discovering a deposit in Western Australia.
Maximus more than doubled to 27.5 cents and was at 25 cents at 11:40 a.m. Sydney time on the Australian stock exchange, valuing the company at A$35.8 million ($33.7 million). The gain was its biggest since the Adelaide-based company's initial public offering in October 2005.