Australia's Power Minerals rises on investment from Critical Metals Corp
BUZZ-Australia's Power Minerals rises on investment from Critical Metals Corp ** Shares of Power Minerals PNN.AX rise as much as 14.3% to A$0.16, their highest level since October 22
** Critical minerals explorer secures A$5 million ($3.51 million) strategic cornerstone investment from Nasdaq-listed Critical Metals Corp CRML.O, via its Australian unit European Lithium EUR.AX
** Investment via placement at issue price of A$0.14 per share
** EUR-CRML group to become a cornerstone shareholder in Power Minerals with about 8% stake, providing strategic exposure to the emerging high-grade Morro do Ferro rare earths discovery in Brazil - company says
** About 3.5 million shares change hands, 1.4x 30-day average
** Stock up 69.6% this year, including the day's move
($1 = 1.4253 Australian dollars)
(Reporting by Sherin Sunny in Bengaluru)
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