Australia's American Rare Earths up on potential magnet metal find in US
19/10/2023 04:31
** Shares of American Rare Earths ARR.AX rise 3.85%% to
A$0.135
** Stock pares gains after rising as much as 7.7% to A$0.140
** Co says got positive test results from its flagship
Halleck Creek Project in Wyoming, Western United States
** Says recoveries of magnet metal, a component in ore that
is used to weld glass, increased 28.5% from co's prior plan
** Adds, results indicate ore can be processed using
simpler, lower-cost technology
** About 470,266 shares change hands as at 0241 GMT, about
1.7x the 30-day average
** Stock down ~32% this year, as of last close
(Reporting by Sherin Sunny in Bengaluru)
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