Australia's Minerals 260 rises on Gascoyne project acquisition

Minerals 260

04/10/2022 03:53

** Shares of Minerals 260  MI6.AX  rise as much as 7.6% to
A$0.285, mark their best intraday pct gain since Sept 9
    ** MI6 to acquire Capricorn Orogen for A$1.3 mln 
($844,350.00) in cash and an issue of about 55 mln of its own
shares
    ** Capricorn Orogen holds 100% of 20 exploration licences
that form the Ti Tree Project in Gascoyne, Western Australia,
prospective of rare-earths elements and lithium
    ** Shares hit their highest levels since Sept 21
    ** More than 799,000 shares change hands, compared with the
30-day average volume of about 170,500 shares
    ** MI6 stock down ~50% this year, as of last close
    ($1 = 1.5396 Australian dollars)
 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))