Australia's Megado Minerals more than doubles on acquiring lithium project in Canada

Megado Minerals

17/02/2023 02:53

** Shares of Megado Minerals Ltd  MEG.AX  more than double
in value to A$0.098, mark their biggest ever intraday pct gain
    ** Gold explorer says it is going to acquire the Cyclone
Lithium project in Quebec, Canada
    ** Co says project has potential for lithium discoveries
along with massive nickel sulphides and orogenic style gold
deposits
    ** More than 54.2 mln shares change hands, 256x the 30-day
average of 211,704 shares
    ** MEG hits its highest level since Sept. 13, 2022
    ** Stock down 4.4% this year, as of last close
 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))