Australia's Mamba Exploration eyes best day in 7 months on option agreement

Mamba Exploration

01/06/2022 02:26

** Shares of Mamba Exploration  M24.AX  jump as much as
29.2% to A$0.155, on track for best day since Oct 28, if gains
hold
    ** The metal explorer enters https://www.asx.com.au/asxpdf/20220601/pdf/459j2zvgpyjqpc.pdf
 into an option agreement to secure "The Don", a rare-earths
element and gold project in Western Australia from Mining
Equities Ltd
    ** The option gives co the exclusive right but not the
obligation to purchase the project for a period of three months 
    ** Stock hits highest level since March 25
    ** Nearly 360,000 shares have changed hands, compared with
the 30-day average of about 89,000 shares 
    ** As of last close, M24 down ~40% this year


 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))