Shares of Accelerate Resources surged as high as 65.2% to A$0.038, marking it the biggest intraday percentage jump since November 24.

Accelerate Resources reached its highest level since that date.

There was significant trading activity, with over 8.7 million shares changing hands compared to the 30-day average of 238,085 shares.

The company has announced the acquisition of high-grade lithium projects located near Karratha in the western region of Pilbara, Western Australia.

To expedite drilling at the projects, the company has raised A$3.6 million via capital raising.

Despite the recent surge, the stock has remained flat this year up to the last close.

Accelerate Resources is an Australian manganese mining firm primarily involved in mining activities.