Australia's Askari Metals rises on lithium project buy in Namibia

Highland Metals

25/10/2022 02:41

** Shares of Askari Metals  AS2.AX  climb as much as 14.9%
to A$0.54 
    ** Metals explorer says it signed an agreement to acquire a
90% interest in a lithium-tantalum-tin prokect in Namibia
 urn:newsml:reuters.com:*:nASX9Qc0yL 
    ** Agreement signed with LexRox Exploration Services (Pty)
Ltd 
    ** As consideration, AS2 to issue A$1.1 million of its
shares and pay A$100,000 in cash, apart from milestone payments 
    ** Trading volumes near four times their 30-day average,
with 1.2 mln shares traded so far
    ** Stock has more than doubled YTD as of last close
 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))