Australia's Latin Resources jumps on deal to sell unit Lotus Minerals

One Click

13/10/2023 03:24

** Shares of Latin Resources  LRS.AX  climb as much as 7.8%
to A$0.313, their highest since Sept 19 
    ** The diversified miner says it has entered a binding Heads
of Agreement with Maverick Minerals for the sale of its unit
Lotus Minerals
    ** Says sale will allow co to focus on its flagship Salinas
Lithium Project in Brazil, among others 
    ** Under transaction, Maverick to issue 6 mln shares of its
capital at A$0.20 per share 
    ** On YTD basis, LRS stock had nearly tripled in value this
year, as of last close 



 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))