Australia's Iondrive rises on signing JV deal for S.Korean projects

Iondrive

22/11/2023 04:27

** Shares of Iondrive  ION.AX  rise as much as 8.3% to
A$0.013, set for their best day since Nov 10, if gains hold 
    ** The mineral explorer signs JV agreement with U.S.-based
KoBold Metals for co's Samguen and Seobyeok mines among others
lithium projects in South Korea
    ** Under the agreement terms, KoBold can earn a 75% interest
in projects while also helping reduce operating costs  
    ** Adds agreement has an earn-in of A$7 mln ($4.56 mln) over
five years
    ** About 2.4 mln shares change hands, compared with a 30-day
average volume of 871,839 shares
    ** Stocks down 52% YTD, as of last close
    

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))