Australia's Oceana Lithium falls on exiting lithium project deal

Oceana Metals

02/01/2024 03:15

** Shares of Oceana Lithium  OCN.AX  down 8.3% at A$0.11
after co opts out of buying lithium project
    ** Mineral explorer says will not exercise the option to
acquire Monaro Lithium project in James Bay, Québec
    ** Co says it will issue 1 mln fully-paid tradeable shares
to Noranda Royalties as an agreed termination payment
    ** OCN trading below 50-, 100- and 200-day moving averages
since mid-November 2023
    ** Stock fell 65.2% last year

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