Australia's Reach Resources surges on deal with Delta Lithium unit

Delta Lithium

11/03/2024 03:49

** Shares of Reach Resources  RR1.AX  double to A$0.004,
their biggest intraday pct gain since early June, 2021
    ** Stock pares gains slightly; last up 75%
    ** Mineral explorer says it has signed an earn-in and joint
venture agreement with a unit of Delta Lithium  DLI.AX 
    ** Delta Lithium to earn an initial 51% joint venture
interest in Morrissey Hill and Camel Hill Lithium Projects,
which can be increased to 80% over the next 2 years
    ** About 59.2 mln shares change hands, 6.7x the 30-day avg
volume
    ** Stock down 12.5% YTD

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))