Australia's Power Minerals jumps on JV deal for Argentina lithium project

Power Minerals

10/10/2024 04:29

** Shares of Power Minerals  PNN.AX  rise as much as 13% to
A$0.13, posting their biggest intraday pct gain since Sept. 27
    ** Australian mineral explorer completes due diligence for
joint venture agreement with China-based Heng Li Technology to
develop its Pular lithium project in Argentina
    ** Says under the JV, Heng Li to fully fund and manage
project development
    ** Says Heng Li to invest $5 mln and purchase 100% of
lithium concentrate produced at the project
    ** Power Minerals stock hits highest level since Oct. 1
    ** Stock down ~42.9% so far this year

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))