Australia's QX Resources jumps on lithium project acquisition

Qx Resources

17/11/2021 03:53

** Shares of mineral explorer QX Resources  QXR.AX  rise as
much as 13.8% to A$0.03, hitting highest since Nov. 5
    ** QXR enters binding option agreement with metals explorer
Redstone Metals Pty Ltd to acquire the "highly prospective"
Western Shaw lithium project in Western Australia's Pilbara
region  urn:newsml:reuters.com:*:nFWN2S71Z5
    ** Co says project is also prospective for iron ore, gold
and nickel mineralisation
    ** Adds exploration opportunity from acquisition strengthens
co's asset base in Pilbara where it intends to consolidate a
portfolio of "quality" lithium-focused projects
    ** Stock posts its biggest intra-day percentage gain since
Nov. 5
    ** About 45.9 mln shares have changed hands, more than two
times their 30-day average 
    ** Stock has more than doubled in value this year as of last
close 
    



($1 = 1.3763 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))