Australia's Cygnus Metals jumps on rare earths project drilling results

Cygnus Metals

08/01/2024 01:11

** Shares of Cygnus Metals  CY5.AX  rise as much as 12.5% to
A$0.135, posting their biggest intraday percentage gain since
Nov. 28, 2023
    ** Diversified miner reports positive drilling results from
its Bencubbin Rare Earths Project in Western Australia
    ** Says drilling has found thick rare earth elements (REE)
intersections up to 14 km away from discovery area at project
    ** Says results extend scale of mineralisation at project to
a strike length of greater than 22km from 4.5km
    ** Nearly 250,300 shares change hands, compared with the
30-day average volume of 233,032
    ** Stock more than doubled in value last year
    

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))