News: AZS UPDATE 1-Australia's Mineral Resources raises stake in lithium miner Wildcat Resources

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Oct 31 (Reuters) - Australia's Mineral Resources (MIN) bought shares worth A$158.7 million ($101 million) in Wildcat Resources (WC8) to raise its stake in the lithium miner to 19.85%, a regulatory filing showed on Tuesday.

The iron ore-lithum miner purchased 186.7 million Wildcat shares on Oct. 28 at A$0.85 each, a 9.7% premium to the stock's close on Oct. 27.

This share buy-up is suspected to be targeting Wildcat's emerging Tabba Tabba lithium discovery in Western Australia, local media reported earlier in the day.

The deal is the latest in a slew of lithium raids in Australia, including by Gina Rinehart, the country's richest person.

Earlier this month, Rinehart-owned Hancock Prospecting built an 18.3% stake in lithium miner Azure Minerals (AZS) and it also amassed a 19.9% stake in Liontown Resources (LTR) , which thwarted Albemarle's ALB.N takeover bid.

($1 = 1.5696 Australian dollars)