Australia's Eastern Resources rises on retention licence grant for iron ore project

Eastern Resources

23/12/2021 02:49

** Shares of Eastern Resources Ltd  EFE.AX  jump as much as
3.9% to A$0.053, eyeing their best session since Dec. 15
    ** The iron ore explorer announces grant of retention
licence covering the Nowa Nowa Iron Project in East Gippsland,
Victoria to unit  urn:newsml:reuters.com:*:nASX2WDxHW
    ** Co says it intends to mine iron ore from Five Mine
Deposit situated north of the village of Nowa Nowa
    ** A retention licence acts as a holding title for a mineral
resource which, though identified, cannot being mined until a
later date 
    ** Stock has risen around five times in value this year, as
of last close

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))