5E Advanced Materials' Australian shares track best day ever on U.S. investment

5E Advanced Materials

12/08/2022 05:47

** Australian shares of dual-listed minerals explorer 5E
Advanced Materials Inc  5EA.AX  rise as much as 24.6% to A$2.74
in their biggest intraday percentage gain ever
    ** Co says it secured new funding for its flagship Fort Cady
Borate project in the United States  urn:newsml:reuters.com:*:nFWN2ZN5C2
    ** Says U.S.-based institutional investment manager
Bluescape will invest $60 mln in co's secured convertible notes
    ** Says notes will be convertible at an initial conversion
price of $17.60, which represents a 10% premium to a reference
price of $16
    ** Says investment will boost co's financial flexibility and
liquidity
    ** Stock hits the highest level since June 22

 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))