Australia's Lithium Power International soars after confirming talks with Codelco

Lithium Power International

28/09/2023 01:48

** Shares of Lithium Power International  LPI.AX  rise as
much as 23.1% to A$0.320, hitting their highest level since July
24
    ** Stock last up 19.2%, sees best day since April 1, 2022 if
gains hold
    ** Specialty miner confirms that it is in discussions with
Corporación Nacional del Cobre de Chile (Codelco) regarding a
potential transaction 
    ** Says Codelco has been granted due diligence
    ** Notes there is no certainty that discussions with Codelco
will lead to consummation of transaction
    ** More than 1.4 mln shares change hands, compared with the
30-day average volume of 624,944 shares
    ** Stock biggest percentage gainer in the ASX All Ordinaries
index  .AORD 
    ** Stock down 40.9% this year, as of last close, compared
with a 0.1% increase in the ASX All Ordinaries index

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((Shivangi.Lahiri@thomsonreuters.com;))