Australia's Octava Minerals rises to 4-month high on lithium project acquisition

Talga

11/09/2023 01:54

** Shares of Octava Minerals  OCT.AX  rise as much as 37.1%
to A$0.096, on track for their best session, if gains hold 
    ** Stock at its highest level since May 2
    ** The green energy metals co says it secured 100% ownership
of Talga lithium project in the Pilbara region of Western
Australia
    ** OCT will purchase the remaining 30% interest in the Talga
JV, via cash payment of A$200,000 ($127,860) and issue of 1.25
mln shares to First Au Ltd  FAU.AX , which will be escrowed for
six months
    ** Octava stock down 41.7% YTD, as of last close

    ($1 = 1.5642 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))