Australia's Lithium Plus Minerals dives after 8-session rally

Lithium Plus Minerals

12/06/2024 03:08

** Shares of Lithium Plus Minerals Ltd  LPM.AX  down 9.1% to
A$0.15 after eight straight sessions of gains
    ** Australian lithium firm agrees to buy two projects -
MacDonnell Ranges Uranium Project in the Northern Territory and
the Fox Hill REE Project in New South Wales 
    ** Under the deal, existing Moonlight project to be
consolidated into newly formed subsidiary Newco with LPM
retaining ownership of 50% of the new entity
    ** Stock down ~58% so far this year

 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))