Australia's Tyranna Resources climbs on buying stake in lithium project

Tyranna Resources

16/05/2022 06:10

** Shares of mineral explorer Tyranna Resources  TYX.AX 
climb as much as 50% to A$0.009, mark their biggest intraday
gain since Dec. 3, 2020
    ** Co acquires 80% interest in a lithium exploration project
in Angola  urn:newsml:reuters.com:*:nASX1KLQnl
    ** Says acquisition provides an opportunity to explore in
the "highly prospective" West African region 
    ** Also receives commitments to raise A$1.1 mln ($757.8 mln)
for project exploration and working capital needs
    ** Shares hit their highest since April 6
    ** More than 41.9 mln shares trade hands, 24 times the
30-daay average volumes of 1.7 mln shares
    ** As of last close, stock down 14.35 this year

($1 = 1.4516 Australian dollars)

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