** Shares of Latitude 66 LAT.AX up 82.6% at A$0.042, highest level since June 10

** Mineral explorer enters non-binding term sheet for the sale of its 17.5% interest in the Greater Duchess Joint Venture with an upfront cash consideration of A$2.0 million ($1.32 million) to Argonaut Partners Pty and Neon Space Pty

** Transaction has potential to deliver immediate non-dilutive funding and potential for further contingent value realisation, adds co

** About 704, 00 shares change hands, 4.5x 30-day average of vol

** Stock down 39.5% this year, as of last close

($1 = 1.5200 Australian dollars)

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com;))