Australia's Metalicity gains on signing formal deals with Nex Metals

Nex Metals Explorations

21/12/2023 02:55

** Shares of Australia's Metalicity  MCT.AX  rise as much as
33.3% to A$0.002, marking their biggest intraday gain since Dec.
8
    ** Mineral explorer says executed formal agreements with
Australian peer Nex Metals Explorations  NME.AX  
    ** Adds, agreement for its Kookynie and Yundamindra gold
joint venture (JV) and settlement of disputes between both
parties 
    ** On completion of agreement, MCT to hold 80% interest in
JV and NME will retain 20%
    ** Nearly 14.9 mln shares change hands as of 0220 GMT, vs
30-day average volume of 4.1 mln shares
    ** Stock down 50% this year, as of last close

 (Reporting by Roshan Thomas)
 ((Roshan.Thomas@thomsonreuters.com))