BUZZ-Australia's Arizona Lithium hits 3-week high on premium placement

Reuters2023-12-18

** Shares of Arizona Lithium soar as much as 18% to A$0.046, hitting their highest since Nov 27

** Stock set for best day since Dec 8, if current gains hold

** Lithium explorer says it has received firm commitments to raise A$16.5 mln ($11.06 mln) via a placement

** Co says funds raised will be used to advance its work at the Prairie lithium project in Canada

** Issue price of A$0.051/share is at a 30% premium to stock's last closing price on Dec 13

** Stock down 37.1% this year, as of last close

($1 = 1.4912 Australian dollars)

(Reporting by Archishma Iyer in Bengaluru)

((Archishma.Iyer@thomsonreuters.com;))

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