** Shares of Bubalus Resources rise as much as 18.2% to A$0.130, their highest since Nov. 5
** Stock hits posts its biggest intraday gain since Nov. 5
** Diversified explorer says it was granted option to acquire gold projects in Victoria
** Says work to date indicates significant potential for gold mineralisation at projects
** About 265,000 shares change hands, compared with the 30-day average volume of around 35,000
** Stock trims YTD losses to 21.2%, including session's move
(Reporting by Aaditya Govind Rao in Bengaluru)
((Aaditya.govindrao@thomsonreuters.com;))
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