Australia's Cosmos Exploration jumps on raising funds to buy lithium firm

EAU Lithium

05/02/2025 02:50

** Cosmos Exploration  C1X.AX  jumps 4.4% to A$0.071
    ** Mineral explorer says it will raise A$1.3 mln ($812,370)
for potential acquisition of EAU Lithium, a firm involved in
development of metal heavily used in batteries for EVs
    ** Under placement, C1X will issue 25 mln shares at A$0.05
    ** Stock soared as much as 8.8% to A$0.74, highest since
Jan. 23, 2024
    ** About 1.8 mln shares traded, ~7x the 30-day average
    ** C1X gains 129% YTD
    
($1 = A$1.6003)

 (Reporting by Manasi Dasa Sundeep in Bengaluru)
 ((Manasi.DasaSundeep@thomsonreuters.com;))