** Shares of Summit Minerals rise as much as 50% to A$0.225, their largest-ever intraday jump
** Stock hits highest level since Oct. 7
** Battery mineral explorer executes agreement to buy Mundo Novo niobium-rare earth elements project in Brazil
** Co has not provided any transactional details regarding acquisition
** Says project has shown substantial potential for niobium, rare earth element, and phosphate mineralisation
** More than 2.9 mln shares change hands, 11.7 times the 30-day avg
** Stock up 33.3% YTD, including current session's moves
(Reporting by Nikita Maria Jino in Bengaluru)
((Nikita.Jino@thomsonreuters.com;))
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