Australia's Morella jumps on likely lithium brine occurrence in US project

Morella

12/01/2024 02:13

** Shares of Morella Corp  1MC.AX  rise as much as 20% to
A$0.006, posting their biggest intraday pct gain since Dec. 20
    ** Lithium and battery minerals explorer says a survey has
identified deep rift basin within a half-graben structure at its
Fish Lake Valley Lithium Brine Project in Nevada, US
    ** Adds identified sediment and volcanic deposits,
indicating positive likelihood of lithium brine occurrence
    ** Stock fell 54.2% last year, its worst year since 2021

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))