Australia's RareX rises on deal to supply phosphate products

Rarex

07/11/2022 01:58

** Shares of RareX Ltd  REE.AX  jump as much as 11.8% to
A$0.057, on track for best day since Oct 5, if gains hold
    ** The rare-earths miner signs memorandum of understanding
with Ord River District Co-Operative to supply locally produced
phosphate products to West Australia's Ord river region 
 urn:newsml:reuters.com:*:nASX37lsXz
    ** Says MoU will progress commercial off-take and product
development opportunities for phosphate products from Cummins
Range project
    ** Stock hits highest since Oct 25
    ** More than 1,544,029 shares change hands, vs the 30-day
average volume of 1,035,918 shares
    ** RareX stock down 48.5% this year, as of last close
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))