Marquee Resources soars on accelerating farm-in lithium deal with MinRes

Marquee Resources

09/06/2023 02:28

** Shares of Marquee Resources Ltd  MQR.AX  climb as much as
63.6% to A$0.036, set for their best day since Nov 5, 2021 if
gains hold
    ** Lithium miner says co and Mineral Resources agreed to
accelerate farm-in agreement for lithium rights at West
Spargoville project
    ** Says MinRes has now acquired an initial 25% interest in
lithium rights in the lithium project by funding A$4.8 mln 
($3.22 mln) in exploration
    ** MQR and MinRes have agreed to establish an unincorporated
joint venture, where co will have 75% interests in the JV
    ** Stock touches highest level since May 18
    ** More than 22.9 mln shares change hands, 20 times the
30-day average volume 
    ** Stock down 40.5% this year as of last close



($1 = 1.4910 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))