Australia's RareX rises after project acquisition in East Yilgarn

Rarex

23/05/2024 03:08

** Shares of RareX  REE.AX  rise as much as 65.52% to
A$0.024, their highest level since Jan 29
    ** The rare-earths firm acquires district-scale,
niobium-rare earths project in the East Yilgarn, Western
Australia
    ** Co says acquisition supports its goal to develop its
100%-owned Cummins Range, carbonatite-hosted, Rare Earths and
Phosphate Project in the future, among others
    ** About 13.7 mln shares changed hands, 20.7 times the
30-day average volume of shares
    ** RareX stock has fallen 48.21% this year, as of last close

    

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))