Australia's Consolidated Zinc gains on raising funds for Pilbara lithium project

Yari Resources

23/09/2022 01:51

** Shares of Consolidated Zinc Ltd  CZL.AX  rise as much as
13.6% to A$0.025 in their biggest intraday pct jump since Sept 2
    ** Co receives firm commitments to raise about A$2.1 mln 
($1.40 mln)  urn:newsml:reuters.com:*:nTUE59RDVF
    ** Co to issue about 75.6 mln fully paid ordinary shares at
A$0.022 per share, same as last closing price on Sept 19
    ** Says proceeds will be used towards exploration activities
at Pilbara lithium project in Western Australia, among others 
    ** Shares touch their highest level since Sept 16
    ** More than 3.3 mln shares change hands vs. the 30-day
average of 848,000 shares 
    ** Stock had fallen 21.4% this year, as of last close   
($1 = 1.5042 Australian dollars)
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))