Australia's RareX gains on six-fold increase in WA project mineral estimate

Rarex

30/03/2023 05:55

** Shares of RareX Ltd  REE.AX  jump as much as 44.7% to
A$0.068 - set for best day since Jan. 20, 2022, if gains holds
    ** Rare earths explorer upgrades mineral resources estimate
(MRE) for its Cummins Range Rare Earths Phosphate project in
Western Australia
    ** Co notes six-fold increase from 2021 MRE, with
"appreciable" quantities of niobium and scandium
    ** RareX at its highest level since Feb. 6
    ** Stock down ~13% this year, as of last close

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))