Mt Monger goes lithium and market reacts positively

MT MONGER Resources has brought its shares back to IPO-pricing parity after announcing the acquisition of potential “new battery metal” projects in the Ravensthorpe district of Western Australia.
Mt Monger goes lithium and market reacts positively Mt Monger goes lithium and market reacts positively Mt Monger goes lithium and market reacts positively Mt Monger goes lithium and market reacts positively Mt Monger goes lithium and market reacts positively

Mt Monger is looking at a new direction

The ground covering about 1000sq.km includes lithium prospective tenure 70km east of Allkem's Mt Cattlin lithium operation.

Vendors of the separate ground packages include Beau Resources, Nicgraph and Kym Mclaren.

Consideration totals A$30,000 cash for a 30-day due diligence period and, if positive, shares with a deemed value at issue of $294,000, plus $60,000 in cash for previous exploration expenses incurred.

Mt Monger listed last year focused on its namesake gold ground near Kalgoorlie, plus gold and rare earth prospects near Laverton.

The IPO raised $5 million by issuing new shares priced at 20c each.

Shares in Mt Monger were up 18% to 20c in morning trade, capitalising the company at $8.6 million.

Mt Monger started the current quarter with $2.65 million cash.