Australia's Cohiba Minerals set for best day in 3 years on lithium project deal

Altair Minerals

25/05/2023 04:04

** Shares of Cohiba Minerals  CHK.AX  edge up as much as 40%
to A$0.007, set for their best day since July 16, 2020, if gains
hold 
    ** The miner says it has executed a binding deal to buy
Maple Minerals 2 Pty Ltd, which holds the rights for four
lithium and rare-earths element properties in Ontario, Canada
 urn:newsml:reuters.com:*:nFWN37L25L
    ** Co adds that as part of part of acquisition, co will
raise A$1.75 mln ($1.19 mln) via a two-tranche placement at an
issue price of 0.5 AU cents per share 
    ** Shares hit highest since Jan 31 
    ** Stock down 28.6% this year, as of last close

    ($1 = 1.4743 Australian dollars)
    
    

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))