Australia's Parabellum resumes trading after 9-month suspension, hits record low

Parabellum Resources

12/12/2023 04:15

** Shares of Parabellum Resources  PBL.AX  fall as much as
78% to a record low of A$0.076, after being suspended from
trading since March 13
    ** Stock posts its biggest intraday percentage fall
    ** Shares had been suspended pending an announcement 
regarding Parabellum's decision to exercise the option to buy
80% of the Khotgor Rare Earths project in Mongolia
    ** The mineral explorer says it will write-off its A$3.9 mln
 ($2.57 mln) investment for a 30% stake in the UK's mineral
explorer Temarise
    ** Temarise has told PBL it is unable to secure payment for
the agreed upon acquisition of Khotgor mine for $15 mln
    ** Including session's move, stock down 75% YTD 
    
    ($1 = 1.5200 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))