Australia's Trek Metals gains on deal with Rio to explore WA project

Trek Metals

12/05/2023 02:30

** Shares of Trek Metals Ltd  TKM.AX  jump as much as 23.3%
to A$0.074, their biggest intraday gain since Nov. 8
    ** Co says it signed a term sheet with a unit of Rio Tinto
 RIO.AX  for exploration at its Jimblebar Nickel-Copper project
in the Pilbara region of Western Australia
    ** This agreement allows Trek to continue to focus on our
flagship Tambourah Lithium Project - CEO Derek Marshall
    ** Says Rio Tinto Exploration to pay A$50,000 ($33,915) up
front for an initial six-month option to explore the Jimblebar
Project
    ** TKM hits its highest since March 14
    ** Stock down 21% this year as of last close


    ($1 = 1.4663 Australian dollars)
  


($1 = 1.4743 Australian dollars)

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.Mishra@thomsonreuters.com))