** Shares of diversified miner Somerset Minerals rise as much as 30.8% to A$0.017, set for biggest one-day pct gain since mid-Oct ** Co enters conditional agreement to acquire the Coppermine project situated in the Canadian province of Nunavut

** Co will have land package consisting of 1,055 sq. km of prospective Copper Creek Formation basalts upon completion of deal

** Stock hits highest level since mid-Nov

** 1.8 million shares change hands, compared with the 30-day average volume of 321,848

** Stock has fallen 48% this year, as of last close

(Reporting by Nichiket Sunil in Bengaluru) ((Nichiket.Sunil@thomsonreuters.com))