Lithium Australia's hits one-week high on MOU with First Phosphate

First Phosphate

07/12/2023 24:40

** Shares of Lithium Australia Ltd  LIT.AX  rise as much as
3.3% to A$0.031, their highest level since Nov. 30 
    ** Energy metals supplier says it has signed a memorandum of
understanding (MoU) with Canada-based mineral developer First
Phosphate  PHOS.CD  
    ** Says MoU for potential development of lithium iron
phosphate and lithium iron manganese phosphate cathode active
material manufacturing plant in North America
    ** About 1.1 mln shares change hands, compared to the 30-day
average volume of 880,912
    ** Stock has fallen 33.3% this year as of last close 

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))