Australia's QX Resources set for best day in 1 month on stake purchase

Qx Resources

17/05/2023 04:02

** Shares of QX Resources  QXR.AX  climb as much as 14.7% to
A$0.039, set for their best day since April 19, if gains hold 
    ** The gold miner says it has signed a Letter of Intent
(LOI) to acquire a majority stake in a recently consolidated
lithium brine project in California, United States  urn:newsml:reuters.com:*:nFWN37D26K
    ** Co says LOI provides a 75-day exclusivity period for due
diligence for a potential 75% acquisition in the project 
    ** Shares hit their highest since May 10 
    ** Stock down ~19% this year, as of last close

    

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))