Australia's Charger Metals hits near 4-week high on acquiring stake in JV

Charger Metals NL

07/02/2023 01:36

** Shares of metals explorer Charger Metals  CHR.AX  rise as
much as 14.6% to A$0.47, the highest level since Jan. 12
    ** Stock set for best day since Jan. 25 if gains hold
    ** Co signs binding agreement to buy Lithium Australia Ltd's
 LIT.AX  30% minority interest in the Lake Johnston Joint
Venture in Western Australia
    ** Says transaction complements co's recent consolidation in
the Lake Johnston greenstone belt
    ** As consideration co to issue to LIT of 7 mln fully paid
ordinary shares of Charger 
    ** More than 447,000 shares change hands, compared with the
30-day average volume of about 186,000 shares 
    ** Stock has fallen 7.9% this year, as of last close
 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))