Pan Asia Metals jumps on deal to study lithium conversion facility in Vietnam

Flagship Minerals

19/05/2023 01:44

** Shares of lithium miner Pan Asia Metals  PAM.AX  climb as
much as 45.8% to A$0.350 - mark their biggest intraday pct gain
since September 2021
    ** Shares hit their highest since March 24
    ** Co enters into a non-binding memorandum of understanding
(MoU) with VinES Energy Solutions Joint Stock Company
    ** Says MoU is for the evaluation of a standalone lithium
conversion facility near VinES battery plant in Vietnam
    ** Adds evaluation will consider an initial annual capacity
of 20,000 to 25,000 tonnes of lithium carbonate and lithium
hydroxide
    ** As of last close, stock down 41.5% this year

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))