Australia's Ionic Rare Earths jumps on mining licence for Uganda project

Ionic Rare Earths

02/01/2024 24:08

** Shares of Australia's Ionic Rare Earths  IXR.AX  rise as
much as 7.7% to A$0.028, their highest level since Nov. 15, 2023
    ** Mineral explorer says on Dec. 28, 2023, the Ugandan
Directorate of Geological Survey & Mines (DGSM) provisionally
granted Stage 1 Large scale Mining Licence for Makuutu Heavy
Rare Earths Project in Uganda
    ** Says co reached agreement with partners in Rwenzori Rare
Metals in Uganda to move up to 94% interest in Makuutu Project
    ** About 18.1 mln shares change hands by 2346 GMT, vs the
30-day average volume of 13.5 mln shares
    ** Stock fell 21.2% last year in its second straight annual
loss

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