Vital Metals tanks on pause of Canadian rare-earth facility construction

Vital Metals

19/04/2023 05:49

** Shares of Vital Metals  VML.AX  plunge by 33.3% to
A$0.01, hits lowest level since July 9, 2020
    ** Stock on track to post worst day since June 19, 2013
    ** Co says has been unable to secure intermediate product
sales on satisfactory terms for its Saskatoon rare earth
facility in Canada
    ** Adds co is pausing all construction-related activities at
the facility to conserve cash, but intends to retain workforce
    ** More than 57.5 mln shares change hands, compared with the
30-day average volume of about 8.2 mln shares
    ** Stock last down 26.7% at A$0.011, extending YTD losses to
42.1%

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