Australia's Godolphin eyes best day in 7 weeks after rare earths unit IPO update
BUZZ-Australia's Godolphin eyes best day in 7 weeks after rare earths unit IPO update ** Shares of critical minerals explorer Godolphin Resources GRL.AX rise as much as 14.71% to A$0.0195, their highest level since June 30
** Stock on track for best session since May 22, if gains hold
** Co says proposed IPO of Matrix Critical Minerals expected to raise A$8 million-A$12 million ($5.55 mln-$8.32 mln) at A$0.20 per share, with listing anticipated for H2 CY2026
** Matrix to hold critical minerals asset Narraburra Rare Earths Project; Narraburra is valued at A$12.5 million
** Adds funding to be used to advance exploration and development initiatives at Narraburra, to commence after IPO
** About 2.9 million shares trade hands vs 30-day average of 2.3 million shares
** YTD stock down 20.83%
($1 = 1.4424 Australian dollars)
(Reporting by Subhalakshmi Dey in Bengaluru)
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