Australia's IRIS Metals set for record gain on lithium carbonate production

American Resources

11/10/2024 03:36

** Shares of IRIS Metals  IR1.AX  soar as much as 55.6% to
A$0.280, set for record daily rise - if current gains hold
    ** Mineral explorer says it has converted spodumene
concentrate to battery-grade lithium carbonate
    ** Says it has signed MoU with American Resources  AREC.O 
unit for bulk testing and development of lithium carbonate
equivalent (LCE) for the U.S. market
    ** Says conversion demonstrates its progression to a
producer & supplier of LCEs from an exploration co 
    ** Stock hits its highest level since mid-July
    ** More than 1.3 mln shares change hands, 12.7x the 30-day
avg
    ** Stock down 70.8% YTD

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))