BUZZ-Australia's Power Minerals jumps on JV deal for Argentina lithium project

Reuters

2024/10/10

** Shares of Power Minerals rise as much as 13% to A$0.13, posting their biggest intraday pct gain since Sept. 27

** Australian mineral explorer completes due diligence for joint venture agreement with China-based Heng Li Technology to develop its Pular lithium project in Argentina

** Says under the JV, Heng Li to fully fund and manage project development

** Says Heng Li to invest $5 mln and purchase 100% of lithium concentrate produced at the project

** Power Minerals stock hits highest level since Oct. 1

** Stock down ~42.9% so far this year

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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