What’s up with Burley’s (ASX:BUR) shares today?

2 min read | November 18, 2022 11:54 AM AEDT | By Ritwika

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What’s up with Burley’s (ASX:BUR) shares today? — Image source: © Gajus | Megapixl.com

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Highlights

Burley signed an exclusive agreement to acquire 100% of lithium projects in Canada and Western Australia.

Today, Burley shares were trading at AU$0.320 apiece on ASX at 11:21 AM AEDT.

Shares of Burley Minerals Ltd (ASX:BUR) were spotted trading at AU$0.320 per share on ASX at 11:21 AM AEDT today (18 November 2022).

On 17 November 2022, the mineral exploration company announced that it had signed an exclusive agreement allowing it to acquire lithium projects in Canada and the Gascoyne region, Western Australia.

Backed by this update, Burley’s shares closed 33.333% higher at AU$0.320 per share on the Australian Stock Exchange (ASX) yesterday (17 November 2022).

Meanwhile, in the last 12 months, Burley’s share price has appreciated by over 43% on the ASX. On a YTD basis, the company’s share price increased by 65% on the ASX (as of 11:21 AM AEDT today).

Details of the agreement signed by Burley:

As per the agreement signed by Burley, it will acquire 100% of the Chubb Lithium Project in Quebec, Canada, and the lithium-prospective Mt James and Dragon Projects in the central Gascoyne region of Western Australia.

The company believes that this agreement will expand its exploration footprints into high-grade lithium-bearing spodumene projects and develop opportunities for Burley shareholders to benefit from successful future exploration projects.

Burley believes the Chubb Lithium Project is a strategic opportunity for the company to explore further potential resources in the heart of the world-class lithium province in Quebec. Furthermore, the project is surrounded by several advanced lithium projects, being mined, developed and supported by well-established towns, sealed roadways networks, airports, hydro-generated power, and rail networks.

Wayne Richards, Managing Director, Burley Resources Ltd, said:

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