Australia's Castile Resources rises on talks over potential critical minerals processing site
16/07/2024 05:22
** Shares of Castile Resources CST.AX rise as much as 8%
to A$0.081, their highest since June 13
** Stock posts its biggest intraday pct gain since April 18,
rises for a fourth straight session
** Copper and gold explorer says it has engaged with the
Northern Territory Land Development Corporation (LDC) on a
parcel of land at the $2 bln dollar Middle Arm Sustainable
Development Precinct (MASDP) in Darwin
** Says precinct to be built for critical minerals
processing and as a clean energy production hub
** Says the LDC and the Northern Territory Governments (NTG)
have acknowledged the suitability of co's downstream processing
plant to operate within Middle Arm
** Adds co is investigating the expansion of the downstream
facility to enable the processing of third-party concentrates
** More than 284,100 shares change hands, compared with the
30-day average volume of 76,539
** Stock had fallen 8.5% this year, as of last close
(Reporting by Sneha Kumar in Bengaluru)
((Sneha.Kumar@thomsonreuters.com;))