Australia's Metals X rises on sale agreement of co's nickel assets

NICO Resources

04/11/2021 04:01

** Shares of Metals X  MLX.AX  rise as much as 4.1% to
A$0.385, touch their highest level since Oct 27
    ** The tin producer signs agreement with NICO Resources
 IPO-NIR.AX  to sell and spin out its nickel assets including
the Wingellina nickel-cobalt project in Western Australia 
 urn:newsml:reuters.com:*:nFWN2RU2BU
    ** Says agreement provides for sale of co's unit, Metals
Exploration Pty Ltd, and gives shareholders a "direct holding in
a listed vehicle" for its nickel assets 
    ** Stock more than doubled this year, as of last close 
    

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))