Australia's Korab Resources gains most in 4 weeks on possible supply deal

Korab Resources

02/05/2022 06:42

** Shares in mining and exploration co Korab Resources Ltd
 KOR.AX  rise as much as 5.4% to A$0.039
    ** Stock could see its best day since April 4, if gains hold
    ** KOR says it received a Letter of Intent from
Germany-based aluminum manufacturer Speira GmbH regarding supply
of magnesium  urn:newsml:reuters.com:*:nASX48m2vG 
    ** Supply from Winchester Magnesium Carbonate Project in
Northern Territory of Australia to Speira
    ** No commercial terms have been agreed between the parties
yet
    ** Stock down 28.9% this year, as of last close

 (Reporting by Anan Ashraf)
 ((Anan.Ashraf@thomsonreuters.com;))