Aussie rare earths explorer Lanthanein Resources soars on lithium deal

Fortuna Metals

05/12/2023 23:53

** Shares of rare earths explorer Lanthanein Resources
 LNR.AX  soar as much as 100% to A$0.012, their biggest intraday
jump since mid-January 2021
    ** LNR at its highest level since Sept. 11
    ** Says entered farm-in agreement to earn up to 70% stake in
Lady Grey lithium-tantalum project in Western Australia
    ** Adds it plans to undertake project-wide evaluation of
lithium hosting pegmatite potential in 1QCY24
    ** More than 35.4 mln shares change hands, vs the 30-day
average of 2.4 mln shares
    ** LNR down 71.4% this year as of last close

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))