ASX-listed Patriot Battery Metals gains on rejecting short-seller claims

PMET Resources

11/07/2023 03:29

** Patriot Battery Metals' ASX-listed shares  PMT.AX  gain
as much as 8.6% to A$1.775, coming off a trading halt on Monday
    ** The lithium miner refutes short-seller Night Market
Research's claims, calling its assertions "factually inaccurate
and misleading"
    ** Night Market, in a July 6 report, said it is shorting
PMT, partly due to a recent stock price rally on company's
promotion with marketing outlets that it said other "Tier-1"
developers would avoid
    ** PMT says it has "strong inbound interest" for its
Corvette lithium project in Quebec from Tier-1 mining and
chemicals companies
    ** While PMT dropped 7.4% on Friday after the report, they
are still up ~127% so far this year
    ** Over 6.5 mln shares traded so far, about 3x the 30-day
avg and nearing the 8.1 mln vol on Fri (trading halt on Mon)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))