Australia's iTech Minerals jumps most in 4 months on lithium project deal

Itech Minerals

22/11/2024 24:45

** Shares of iTech Minerals  ITM.AX  rise as much as 21.2%
to A$0.080, their biggest intraday gain since July 23
    ** Mineral explorer enters into a memorandum of
understanding with SQM Australia (SQM) to develop the Reynolds
Range Lithium Project in Northern Territory
    ** Under the agreement SQM can acquire up to 70% interest in
the lithium rights of the Project by paying fees, while iTech
retains rights to other minerals 
    ** Stock hits its highest level since Sept. 3
    ** Over 3 mln shares change hands, 12.6x the 30-day avg
    ** Stock down 32.2% YTD, including current session's moves,
as of 0027 GMT

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))