Mitre Mining Corp hits over 7-month high on acquiring lithium projects

Andean Silver

23/11/2022 01:18

** Shares of Mitre Mining Corp Ltd  MMC.AX  jump as much as
29.4% to A$0.220, their highest since April 5
    ** Mineral explorer says it entered into binding heads of
agreement to acquire Bellpark Minerals Pty Ltd, the owner of
East Pilbara Lithium and Mount Alexander Lithium Projects  
    ** Co also announces placement of A$1.2 million
($798,240.00) to support exploration of acquired projects
    ** Issue price of A$0.14 per share is at a 17.6% discount to
last close on Nov. 17 
    ** Shares see their biggest intraday pct gain since Sept. 8
    ** Volumes are 39.5x the 30-day average of 71,487 shares
    ** Stock has fallen 10.5% this year, as of last close 
($1 = 1.5033 Australian dollars)
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))