Vital Metals Limited (ASX: VML) share price was up 24.6% today – hitting a 5-year record of 8.6 cents in morning trade. The rise coming after the company announced the production of a rare earth carbonate.
As of writing, shares had slightly retreated to sit at 7.1 cents each. This is still nearly 16% above yesterday’s close of 6.9 cents per share. In comparison, the S&P/ASX All Ordinaries Index is up only 0.6%.
Let’s take a closer look at what’s affecting the company’s share price.
What did Vital Metals announce and how is it affecting its share price?
In a statement released to the ASX, Vital Metals declared it had produced a…