Australia's Adelong Gold rises after lithium tenement package deal

Amara Minerals

22/09/2023 03:55

** Shares of Australian mineral explorer Adelong Gold
 ADG.AX  rise as much as 33.3% to A$0.012, highest level since
July 4
    ** Co announces binding agreement to acquire three
applications for lithium exploration projects located in Lithium
Valley in Minas Gerais, Brazil
    ** Lithium Valley accounts for all officially recognised
lithium reserves in Brazil - co
    ** Adds, received oversubscribed firm commitments for a
placement to raise A$1 mln ($641,300) at A$0.008 per share 
    ** About 26.8 mln shares change hands, compared with the
30-day average volume of 788,809
    ** Stock up 28.6% YTD, as of last close, vs 0.37% increase
in benchmark S&P/ASX 200 index  .AXJO  

($1 = 1.5593 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com;))