Australia's Victory Metals climbs to 6-week high on MOU with Sumitomo Corp

Victory Metals

17/12/2024 24:57

** Shares of Victory Metals  VTM.AX  rise as much as 15% to
A$0.460, their highest levels since Nov 5
    ** Co has signed a Memorandum of Understanding with Sumitomo
Corp  8053.T  to provide the diversified Japanese firm with 30%
of its yearly production of Mixed Rare Earth Carbonate (MREC)
from the Australian critical minerals explorer's North Stanmore
Heavy Rare Earth Project
    ** Stock posts its biggest intraday percentage gain since
Nov 19
    ** About 1.3 million shares change hands, compared with the
30-day average volume of 200,922 (6.0 times)
    ** Stock has risen 90.5% this year, as of last close
    

 (Reporting by Nichiket Sunil in Bengaluru)
 ((Nichiket.Sunil@thomsonreuters.com))