Australia's Thunderbird Resources falls on decision to not pursue Ontario lithium opportunities

Xpedra Resources

29/05/2024 06:42

** Shares of Thunderbird Resources  THB.AX  fall as much as
8.6% to A$0.032, on track for their worst day since May 14, if
losses hold
    ** Stock of critical minerals explorer hits lowest level
since May 17
    ** Co says it will not pursue lithium opportunities in
Ontario following a strategic review
    ** Suspends all work on Frazer Lake lithium project in
Ontario
    ** Co and Pegmatite One Lithium and Gold Corp (PGA) had
entered exclusive binding option agreement for buying Frazer
Lake Lithium project
    ** Co intends to issue 1.2 mln shares on June 1 in
accordance with its obligations under the deal with PGA
    ** Says co will now focus on its uranium portfolio in and
around Athabasca Basin in Canada 
    ** Stock down 53.3% YTD, as of last close

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