Australia's Bastion Minerals climbs on option to acquire lithium assets in Canada

Vita Resources NL

05/12/2022 01:21

** Shares of mineral explorer Bastion Minerals Ltd  BMO.AX 
rise as much as 26.7% to A$0.076, their highest since Oct. 6
    ** Co enters option agreement to acquire portfolio of
lithium assets and royalties in Quebec and Ontario, Canada
    ** Says co has the right to acquire 130 mining properties
across more than 2,250 sq km 
    ** Adds of the 130 properties, 88 are currently under option
to third parties and are expected to deliver cash flows to BMO
of about A$5.4 mln ($3.69 mln)
    ** More than 7.7 mln shares change hands, 35.6 times the
30-day average volume of 217,332 shares
    ** As of last close, stock down 75% this year
($1 = 1.4652 Australian dollars)
 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))