Australia's Galileo Mining surges on lithium JV with Mineral Resources

Galileo Mining

03/06/2024 02:23

** Shares of speciality miner Galileo Mining  GAL.AX  soar
as much as 18.4% to A$0.29, posting their biggest intraday pct
gain since March 21 
    ** Co executes joint venture deal with Mineral Resources
 MIN.AX  unit to sell 30% lithium rights on Norseman project
tenements in Western Australia for A$7.5 mln ($4.99 mln)
    ** GAL shares hit their highest level since May 10 
    ** More than 1.2 mln shares change hands, compared with the
30-day average volume of 269,433 shares  
    ** Stock down 14% this year, as of last close, vs a 0.8%
increase in the benchmark S&P/ASX 200 index  .AXJO 
    ** MIN shares up 1% at A$72.4 on Monday, heading for best
day since May 20
    
($1 = 1.5017 Australian dollars)

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))