Australia's Lycaon Resources set for best day ever on buying rare earth project

Solara Minerals

15/11/2022 04:27

** Lycaon Resources's shares  LYN.AX  climb as much as 61.3%
to A$0.50, their highest since June 6
    ** Stock last up ~23%, set to post their best day ever, if
gains hold
    ** The mineral explorer says to buy Stansmore Carbonatite
Project in West Arunta region of Western Australia  urn:newsml:reuters.com:*:nASX694dw1
    ** Says project is highly prospective for niobium and rare
earths discovery and hosts potential for iron-oxide-copper-gold
(IOCG) mineralisation
    ** More than 1.1 mln shares trade hands, 17.6 times the
30-day average of 66,501 shares
    ** Session's gains flip LYN to YTD gains of ~5.5% from
losses of ~14% as of Monday's close
 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.Ojha@thomsonreuters.com))