Australia's 29Metals jumps on $50 mln finance facility deal with Glencore

29Metals

22/04/2024 02:38

** Shares of 29Metals Ltd  29M.AX  jump as much as 6.9% to
A$0.465, their biggest intraday gain since April 10 
    ** The diversified miner says it agreed to a binding terms
sheet for $50 million offtake finance facility with
Switzerland-based Glencore Plc  GLEN.L  
    ** Adds that offtake finance package includes long-term
offtake for copper and zinc concentrates on market-based terms
    ** Work on underground component of loss and damage suffered
at Capricorn copper is ongoing - 29M 
    ** Stock down 32.6% this year, as of last close


 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))