Acquisition lifts Krakatoa

SHARES in Indonesia-focused explorer Krakatoa Resources have jumped 28% after the company entered into a deal to acquire iron ore miner Bina Citra Sawita for $US150,000 ($A136,485).

Under the agreement Krakatoa will also issue Sitasa Group, which owns Bina Citra, 5 million fully paid Krakatoa shares, which will give it a 99.

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