Australian Strategic Minerals hits 1-week high on rare earth sale agreement

Australian Strategic Materials

08/09/2022 07:00

** Shares of the rare earths miner  ASM.AX  jump as much as
8.6% to A$3.37, their highest since Sept. 1
    ** Stock posts its biggest intraday pct gain since Aug. 11
    ** Co says unit signed binding agreement with South Korean
firm NS World for the sale of neodymium praseodymium metal
 urn:newsml:reuters.com:*:nASX2kdwvQ
    ** Says agreement enables delivery of up to 10 tonnes of
neodymium praseodymium metal ingot during September-December
    ** More than 580,000 shares change hands vs the 30-day avg
of about 430,000 shares
    ** Stock had fallen 68.4% this year, as of last close

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com))