Australia's Emetals surges most in a year on rare earth deal

Emetals

19/11/2021 24:40

** Shares of Emetals Ltd  EMT.AX  surge as much as 66.7% to
A$0.025, their best intraday session since Oct. 9, 2020
    ** Rare earth miner to buy Salmon Gums Minerals Pty Ltd that
holds two prospective rare earth tenements in Western Australia
 urn:newsml:reuters.com:*:nFWN2S91S7
    ** EMT to issue 15 mln shares of co at a deemed issue price
of A$0.02 per Share to the Salmon Gums Shareholders as
consideration
    ** Also announces capital raising of 350 mln shares at
A$0.0125 each to fund exploration activities, among others
    ** Stock trades at its highest since Aug. 12; it is up 2.5%
for the week — setting it up for a second straight weekly gain
    ** 34.3 mln shares change hands, 30.9x the 30-day average
volume of 1.1 mln; down 44.4% so far this year

 (Reporting by Aneetta Thomas in Bengaluru)
 ((Aneetta.Thomas@thomsonreuters.com;))