Shares of OD6 Metals (ASX:OD6) have seen an increase of up to 9.4%, reaching a price high of A$0.175; this is the highest level the shares have seen since September 14.

The increase followed the company’s announcement of the intersection of total rare earth oxides (TREO) at its Splinter Rock Project located in Western Australia.

The company believes that these results hint at a considerable potential for resource expansion.

Despite this, the company’s stock has fallen by 51.5% year-to-date, as of its last closing time.

OD6 Metals is a mineral exploration company focused on the discovery and development of TREO.