Australia's Consolidated Zinc rises on lithium explorer buy

Yari Resources

16/05/2022 06:49

** Shares of Consolidated Zinc  CZL.AX  rise as much as 50%
to A$0.03, their best intraday gain since March 30
    ** Co says it entered formal binding share purchase
agreement to acquire Westoz Lithium Pty Ltd, which owns
exporation licenses considered prospective for lithium in
Western Australia  urn:newsml:reuters.com:*:nASX5qCGbr 
    ** Consideration for deal is A$740,000 in cash and shares
    ** Stock hits highest level since April 27
    ** CZL stock down 28.6% YTD, as of last close 
    

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))