BUZZ-Australia's Alchemy Resources jumps on funding with Japanese govt agency

Reuters
2024-09-30

** Shares of Alchemy Resources rise 14.3% to A$0.008, hitting their highest level since July. 30

** Diversified miner signs joint venture agreement with Japan Organisation for Metals and Energy Security (JOGMEC) for its Roe Hills prospect in the Karonie project in Western Australia

** Says JOGMEC will fund up to A$6 mln ($4.16 mln) by March 2029 for lithium exploration and has right to earn up to 51% interest

** Stock marks biggest intraday pct rise since Sept. 20

** About 2.5 mln shares change hands, 5.2 times the 30-day average of ~474,343 shares

** Shares add ~23.1% in value so far in September, on track for best month since Oct. 2022

** YTD, stock down 20%, including current session's moves

($1 = 1.4432 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

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

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