Shares in Caravel Minerals closed trade on Friday up 11 per cent to 19.5 cents, following news the junior had signed a non-binding MOU with India-based Adani Enterprises.
Shares in Caravel Minerals rose by 12 per cent on Thursday morning, following news the Subiaco-based explorer had submitted its environmental review document for the Caravel copper project to the Environmental Protection Authority.
Don Hyma has been appointed managing director of Australian Rare Earths, following his resignation as director projects at Fortescue Metals Group earlier this year.
Fortescue Metals Group has confirmed a $US400 million cost blowout for its Iron Bridge magnetite project while announcing a 44 per cent growth in revenue and higher dividend payout.
Fortescue Metals Group has announced the resignation of three senior executives, with the company citing cultural issues and refusing to confirm cost blowouts at its Iron Bridge project.
