Australia's Reach Resources hits over 4-mth high as unit gets rare earth licence

Reach Resources

08/09/2022 06:48

** Shares of Reach Resources Ltd  RR1.AX  rise as much as 
15.4% to A$0.0075, their highest since May 5
    ** The gold explorer says Skyline Resource Corporation Pty
Ltd, a unit of co, has been granted exploration licence over a
247 sq km area in Gascoyne province of Western Australia
 urn:newsml:reuters.com:*:nASX18NDVl
    ** Says the area is prospective for rare earth element
mineralization and sampling and mapping program will begin by
late September  
    ** More than 23.4 mln shares trade hands, 4.2 times the
30-day average volume of 5.5 mln shares
    ** Shares are down 7.1% YTD as of last close 

 (Reporting by John Biju in Bengaluru)
 ((john.biju@thomsonreuters.com))