Australia's Red Mountain Mining up on deal for prospective lithium tenure

Red Mountain Mining

21/02/2022 04:30

** Shares of gold explorer Red Mountain Mining  RMX.AX  rise
as much as 11.1% to A$0.010, their biggest intraday pct gain
since Jan 31
    ** RMX acquires https://www.asx.com.au/asxpdf/20220221/pdf/45656tm8c8p3c4.pdf
 the Nannup project, a prospective granted exploration tenement
held by Airdrie Exploration Pty Ltd in Western Australia, for
A$50,000 ($36,025) in cash
    ** Says Nannup project is prospective for lithium, nickel,
gold and base metals
    ** Adds that deal provides large potential upside in project
value growth
    ** More than 8 mln shares have changed hands vs 30-day
average of about 6.5 mln shares 
    ** Stock flat this year, as of last close 
    



($1 = 1.3879 Australian dollars)

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