Australia's Tempus hits record low on walking away from lithium projects buyout

Somerset Minerals

05/11/2023 23:52

** Shares of Tempus Resources Ltd  TMR.AX  fall as much as
33.3% to an all-time low of A$0.008
    ** Exploration co says it is not proceeding with the
acquisition of Aurora Lithium, and terminates the heads of
agreement dated Sept. 21 
    ** Aurora Lithium owns Cormorant and White Rabbit
lithium projects in central Manitoba, Canada 
    ** Says co has taken a number of additional decisions
designed to reduce costs and streamline its business
    ** Co also intends to apply to the TSX Venture Exchange to
voluntary delist the common shares of the co 
    ** Co's shares see biggest ever intraday fall 
    ** TMR down ~79% YTD as of last close 
   

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