Australia's Rafaella Resources jumps on battery metals project acquisition

Pivotal Metals

13/09/2022 01:47

** Shares of Australia's Rafaella Resources Ltd  RFR.AX 
rise as much as 63.3% to A$0.049, their highest since April 28
    ** Mineral explorer via unit signs binding agreement with
Gestion Ora-Mirage Ltée to acquire the Horden Lake battery
metals project in Quebec, Canada for about A$4 mln ($2.75 mln)
 urn:newsml:reuters.com:*:nASX3TYY4R
    ** Says acquisition financing is secured for up to A$2 mln
in binding commitments
    ** Stock posts its biggest intraday pct gain since Aug. 21,
2020
    ** Share volumes 11 times the 30-day average of 301,901
shares
    ** Stock had fallen 53.8% this year, as of last close    

($1 = 1.4520 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))