Australia's Vital Metals gains on funding for rare-earth plant

Vital Metals

04/04/2022 04:18

** Shares of Vital Metals  VML.AX  rise as much as 15% to
A$0.069, set for their best day since August 2021 if gains hold
    ** The rare earths producer says its unit Vital Metals
Canada signed a funding agreement with PrairiesCan, the Canadian
government's Regional Economic Development Agency for Prairies
Region  urn:newsml:reuters.com:*:nASX6NlnrX
    ** Adds that C$5 mln ($4.00 mln) funding at 0% interest
supports operating and commissioning of rare-earth extraction
facility in Saskatoon, Canada
    ** Stock hits highest level since mid-November 2021
    ** More than 40 mln shares change hands, compared with the
30-day average volume of about 10.5 mln shares
    ** Stock has risen 11.1% this year, as of last close
 
($1 = 1.2511 Canadian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))