Australia Kali Metals surges on trading debut

Kalamazoo Resources

08/01/2024 02:49

** Shares of Australian lithium miner Kali Metals  KM1.AX 
surge as much as 90% to A$0.475 as it files for initial public
offering 
    ** Miner with projects in Western Australia, New South Wales
and Victoria was spun off as a separate company from Kalamazoo
Resources  KZR.AX  
    ** IPO heavily subscribed, raising maximum amount of A$15
mln ($10.08 mln)
    ** Funds raised from IPO will be mainly used to develop
Higginsville Lithium Project in Western Australia's Eastern
Yilgarn region - co
    ** Adds initial drilling program for its lithium projects
are expected to start in H1 FY24 
    ** Shares of Kalamazoo slump as much as 9.7%


($1 = 1.4888 Australian dollars)

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))