Australia's Lodestar slumps after divesting lithium JV stake

Lodestar Minerals

07/08/2023 04:05

** Shares of Lodestar Minerals  LSR.AX   RIC  fall as much
as 30% to A$0.008, lowest since July 28
    ** The gold and base metal explorer says divesting 20%
interest in Kangaroo Hills lithium JV, enters agreement with
Future Battery Minerals (FBM)
    ** Divestment at A$3.5 million ($2.3 million) in cash and
shares plus A$3 million in performance rights to FBM - Lodestar 
    ** Co to become a significant shareholder in FBM
    ** Nearly 17 million shares change hands, versus 30-day
average volume of 5.4 million shares     
    ** Lodestar has risen ~150% this year, as of last close


($1 = 1.5184 Australian dollars)

 (Reporting by Aishwarya Nair in Bengaluru)
 ((Aishwarya.Nair@thomsonreuters.com; +91-9167838937 Twitter: https://twitter.com/Aishwaryartrs
 ;))