Australia's Resource Base soars on buying rare earths explorer

Resource Base

27/09/2021 05:34

** Shares of the mineral exploration co  RBX.AX  rise as
much as 51.2% to A$0.310, its highest since July IPO
    ** Co to acquire 100% of Mitre Hill Pty, the owner of five
strategic exploration licence applications over ground located
within the Murray Basin in Victoria and South Australia  
    ** Deal includes 1,380 km sq of Mitre Hill project, with
potential to be prospective for rare earth elements - RBX
 urn:newsml:reuters.com:*:nFWN2QR08O
    ** RBX will also raise A$1.2 mln ($0.87 mln) through issue
of 6 mln shares at A$0.20 per share
    ** More 11 mln shares trade hands, ~68x the 30 day average
volume
    ** Up to last close, stock had risen 20.6% since IPO

($1 = 1.3778 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))