Australia's Arizona Lithium gains on mining services deal with U.S.-based Navajo Nation

Prairie Lithium

05/12/2022 24:00

** Shares of Arizona Lithium Ltd  AZL.AX  jump as much as
8.5% to A$0.077, post their biggest intraday pct gain since Oct
26
    ** Lithium explorer says it entered strategic alliance with
a unit of U.S.-based miner Navajo Nation
    ** Under terms of deal, Navajo Transitional Energy Company
(NTEC) to manage all permitting and contract mining services at
AZL's flagship Big Sandy Lithium project
    ** Says if a definitive deal is signed, NTEC Managing
Director Vern Lund to be appointed to AZL's board
    ** AZL stock touches its highest level since Nov 28
    ** Stock down about 32% this year, as of last close
 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))