Australia's Future Metals gains on MoU with Zeta Resources

Shares of Future Metals FME.AX rise as much as 16.75 to A$0.014, their highest levels since March 20

The metal explorer executes strategic infrastructure MoU with Zeta Resources to assess potential for strategic use of Savannah plant to process Eileen Bore Cu-Ni-PGM & Panton PGM ore bodies, to accelerate development of these deposits

Co to raise A$4.2 million ($2.57 million) via placement and rights issue

About 2.4 million shares change hands, 5.6 times the 30-day average volume of shares

Stock down 20% this year, as of last close

($1 = 1.6343 Australian dollars)