Australia's Si6 Metals rises on deal to acquire stake in Brazil projects

Verity Resources

13/06/2023 03:23

** Shares of Si6 Metals Ltd  SI6.AX  rise as much as 33.3%
to A$0.008, their highest since Sept 26, 2022
    ** The battery and precious metals explorer enters into a
term sheet with Foxfire Metals Pty Ltd
    ** Under deal, Foxfire Metals has granted co exclusive right
to acquire 50% interest in portfolio of Brazilian exploration
projects
    ** The deal is subject to a 30-day exclusive due diligence
period 
    ** Says the project tenements are prospective for a number
of metals including lithium, rare-earths elements among others 
    ** About 23.7 mln shares change hand, compared with 30-day
average trading volume of 1.5 mln shares 
       

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