Australia's Vital Metals hits 1-month high on supply deal

Ucore Rare Metals

19/10/2021 01:01

** Shares of rare earth producer Vital Metals  VML.AX  rise
as much as 4.8% to A$0.065, their highest since Sept. 20 
    ** Co signs MoU with Canada-based Ucore Rare Metals  UCU.V 
to supply rare earth carbonate feedstock for Ucore's ALASKA2023
project  urn:newsml:reuters.com:*:nASX3Nn0B9
    ** Under deal, Vital will sell to Ucore a minimum of 500
tonnes of rare earth oxides (ex-cerium) per year by H1 2024.
    ** Says MoU will position Vital as a key supplier of rare
earths in the North American market
    ** Stock on track for a third consecutive session of gain 
    ** Stock had almost doubled in value this year, as of last
close

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))