Australia's Lord Resources gains on farm-in deal with Mineral Resources
20/03/2024 02:16
** Shares of Lord Resources LRD.AX rise as much as 135.3%
to A$0.120, posting a record intraday pct gain
** Stock at its highest since May 29, 2023
** The diversified explorer says it has executed a farm-in
agreement on the Horse Rocks Lithium Project with Mineral
Resources Ltd MIN.AX
** MinRes to spend A$1 mln ($653,400) in exploration and
earn 40% of the project
** About 16.2 mln shares change hands, 171.1x the 30-day avg
volume
** Stock down ~19% YTD, as of last close
($1 = 1.5305 Australian dollars)
(Reporting by Neha Soni in Bengaluru)
((Neha.Soni@thomsonreuters.com))