Australia's Morella Corp hits over 2-month high on earn-in agreement with Lithium Corp

Morella

11/08/2022 06:15

** Shares of Morella Corp Ltd  1MC.AX  jump as much as 42.5%
to A$0.029, their highest since May 31
    ** Shares mark their sharpest intraday pct gain since Jan 
    ** Lithium-focused explorer executes a formal earn-in
agreement with U.S.-based Lithium Corp  urn:newsml:reuters.com:*:nFWN2ZMAJY
    ** Agreement for co to earn a 60% interest in North Big
Smoky Project in Nevada with options to acquire 100% 
    ** Co to invest at least $1 mln over a four-year period on
exploration and development activities
    ** About 170.5 mln shares change hands, compare with the
30-day average of 17.4 mln 
    ** Stock had risen 11.1% this year, as of last close

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))