Shares of Western Gold (ASX:WGR) experienced an uptick as high as 62.5% to A$0.065, potentially marking their best performance if the increase persists.

Recent trading has pushed the stock to its highest level since February 13.

The gold mining company announced it will acquire Euro Future Metals.

This company holds the exploration permits for three high-grade rare-earths and graphite prospects in Sweden.

Additionally, Western Gold has secured commitments to raise A$1.5 at A$0.035 per share, coming in at a 12.5% discount to the stock’s last closing price.

This surge of activity comes in spite of a 43.7% downturn in WGR’s stock year-to-date, as of the last close.

Western Gold Resources is a company engaged in gold mining.