Bryah Resources hits near 5-month low on Western Australia project sale

Albright Metals

19/05/2022 05:15

** Shares of mineral exploration co Bryah Resources  BYH.AX 
fall as much as 6.4% to A$0.044, their lowest value since Dec.
21
    ** Bryah says it signed an option agreement to sell a 51%
interest in the Lake Johnston lithium-nickel project in Western
Australia to Mining Green Metals Ltd (MGM)  urn:newsml:reuters.com:*:nASX14rbkL
    ** Co to get 5 mln fully paid ordinary shares of MGM as part
of agreement
    ** Bryah to retain 49% interest in the project in an
unincorporated joint venture
    ** Adds that divestment to help focus on other projects and
ensure resources required for advancing Lake Johnston assets 
    ** Stock posts its biggest intraday pct fall since May 9
    ** About 1.5 mln shares change hands, compared with the
30-day average volume of about 938,000 shares 
    ** Stock has fallen 3.1% this year, as of last close,
compared with a 3.5% decline in the S&P/ASX 200 index  .AXJO  

 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))