Australia's Dreadnought Resources climbs on rare earth finds at WA project

Dreadnought Resources

16/06/2022 04:54

** Shares of mineral explorer Dreadnought Resources  DRE.AX 
rise as much as 21.6% to A$0.045, mark their biggest intraday
pct gain since April 4
    ** Co says initial drilling at its Mangaroon Project in
Western Australia intersected thick, high-grade rare earth
mineralisation  urn:newsml:reuters.com:*:nASXb2qmjm
    ** Says samples from the first holes have been dispatched
for rush analysis
    ** Adds drilling is expected to take three months to
complete with regular updates throughout July to October 
    ** Shares hit their highest since May 4
    ** More than 25.8 mln shares change hands, 6.8 times the
30-day average of 3.8 mln shares 
    ** As of last close, stock down 9.8% this year

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))