Australia's Desert Metals posts record gain on rare earth discovery

Desert Metals

16/09/2022 02:05

** Shares of Desert Metals Ltd  DM1.AX  jump as much as
59.04% to A$0.660, set to mark their record daily pct jump, if
gains hold
    ** Co confirms discovery of Total Rare Earth Oxide (TREO)
intersections at the Innounendy Project in Western Australia (https://bit.ly/3Bjlpf9)
    ** Says TREO intersections within the clay appear to be
thick and relatively continuous 
    ** Stock touches its highest since Feb. 7
    ** Around 1.7 mln shares change hands, 6.8 times the 30-day
average
    ** Stock has risen 15.3% this year, as of last close

    

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))