Australia's Winsome Resources hits all-time high on Canada project buy

Power Metals

02/12/2022 04:26

** Shares of Winsome Resources Ltd  WR1.AX  rise as much as
19.6% to record all-time high of A$1.315 per share 
    ** The exploration and development co to acquire shares in
Power Metals Corp  PWM.V , which are currently owned by Hong
Kong-based Sinomine Rare Metals Resources Co Ltd  002738.SZ 
    ** Under the agreement, co to acquire offtake rights of
Sinomine for lithium, caesium and tantalum from the Case Lake
Project in Ontario, Canada
    ** Co's shares set for best day since Nov. 17, if gains hold
    ** Deal for total cash consideration of A$2.2 mln ($1.50
million)
    ** Shares hit highest since Nov. 25, up 197.3% YTD as of
last close 
($1 = 1.4678 Australian dollars)
 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))