Calidus Resources soars on partner selling stake in Australian lithium project to SQM

Calidus Resources

23/10/2023 01:06

** Shares of Australian gold explorer Calidus Resources
 CAI.AX  soar as much as 27% to A$0.165, marking their biggest
intraday pct jump since February 2019
    ** CAI at its highest level since Sept. 29  
    ** Co says Chilean lithium miner SQM  SQMA.SN  to buy 30%
stake in a Pilbara lithium project from joint venture partner
Haoma Mining
    ** Calidus, which owned Pirra Lithium equally with Haoma,
would retain 40% ownership in project by injecting A$2 mln
($1.26 mln) to fund exploration
    ** Co says SQM unit to subscribe for A$3 mln Pirra Lithium
shares for A$0.20 per share
    ** Nearly 1.1 mln CAI shares change hands as of 0000 GMT, vs
30-day average volume of 489,091 shares     
    ** Stock down ~51.9% YTD, as of last close 

($1 = 1.5828 Australian dollars)

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