BUZZ-Australia's Vanadium Resources soars on magnetite ore supply deal

Reuters

07/22

BUZZ-Australia's Vanadium Resources soars on magnetite ore supply deal

** Vanadium Resources VR8.AX soars as much as 87% to A$0.043, highest since November 1, 2024

** Stock marks its biggest intraday pct gain since June 17

** Co's unit signs deal with China Precious Asia (CPAL) to supply vanadium-rich magnetite ore

** Co says unit will supply 100,000 metric tonnes of ore on avg to CPAL over a two-year period

** Vanadium-rich magnetite ore is used to make steel, among others

** YTD, VR8 gains 29%

(Reporting by Rajasik Mukherjee in Bengaluru)

((Rajasik.Mukherjee@thomsonreuters.com))

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