Maximus Resources at near 2-month high on lithium partnership with S.Korean firms

Gold Strategy

16/10/2023 01:12

** Shares of Australian mining explorer Maximus Resources
 MXR.AX  rise as much as 17.9% to A$0.033, their biggest
intraday pct jump since July 18
    ** Stock at its highest level since Aug 18
    ** Co announces lithium farm-in agreement with Korea Mine
Rehabilitation and Mineral Resources Corporation (KOMIR) and 
non-binding Memorandum of Understanding (MOU) with LG Energy
Solution Limited
    ** Agreement and MoU in respect of co's Lefroy lithium
project in Western Australia - MXR
    ** Co says KOMIR to fund $3 mln of lithium exploration to
earn 30% interest in lithium joint venture across co's Lefroy
project
    ** Adds non-binding MoU provides global battery manufacturer
LG Energy Solution with option to acquire KOMIR's 30% interest
in lithium JV
    ** Maximus stock down 30% YTD, as of last close

    

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com;))