Australia's Power Minerals soars on acquiring niobium project in Brazil

Power Minerals

03/07/2024 03:15

** Shares of Power Minerals  PNN.AX  rise as much as 53.9%
to A$0.20, their biggest intraday pct gain since Sept. 24, 2021
    ** Stock hits highest level since March 15 
    ** Mineral resources explorer enters binding agreement
acquire the Lĺtio niobium project in Brazil 
    ** Says project located near mineral explorer Summit
Minerals'  SUM.AX  Equador niobium project, which has returned
very high grade niobium sample results
    ** Niobium is used in alloys, tools and dies, and
superconductive magnets
    ** About 1.6 mln shares change hand compared to 30-day
average trading volume of 408,981 shares 
    ** Stock down 38.1% YTD, as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))