Australia's Perpetual Resources jumps on acquiring lithium exploration permits

Perpetual Resources

09/08/2023 06:19

** Shares of Perpetual Resources  PEC.AX  rise as much as
68.2% to A$0.037, their highest level since Sept. 12, 2022
    ** The exploration co acquires three exploration permits
covering 5,000 hectares in Brazil's Minas Gerais region, which
is rich in hard-rock lithium spodumene deposits
    ** Co also receives commitments to raise A$1.5 mln
($983,100) through placement at A$0.022 per share, at par with
its last closing price 
    ** Trading volumes 7x the 30-day avg of 6.1 mln shares
    ** PEC has risen 22.2% YTD, as of last close

($1 = 1.5258 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))