Osmond Resources jumps on U.S. lithium project acquisition

5E Advanced Materials

22/05/2023 02:32

** Shares of Australia's Osmond Resources  OSM.AX  jump as
much as 25% to A$0.20, set for best day ever, if gains hold 
    ** Mineral explorer says it has entered into an agreement
with 5E Advanced Materials  FEAM.O  to acquire Salt Wells
lithium-borate Project located in Nevada, U.S.
    ** Says, it would raise about A$2.3 mln ($1.56 mln) to fund
the project
    ** OSM stock at its highest level since March 20
    ** Stock down ~26% YTD, as of last close
 



($1 = 1.4743 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))