Australia's Admiralty Resources jumps on signing project financing deal

Admiralty Resources NL

15/02/2021 03:41

** Shares of Admiralty Resources  ADY.AX  rise as much as
21.4% to A$0.017, marking their biggest intraday pct gain since
Jan. 13
    ** Minerals and metals explorer says it signed deal with
China's Hainan Xinlei Mining Management for financing its
Mariposa iron ore project in Chile  urn:newsml:reuters.com:*:nASXbf6FML
    ** Under the contract, Hainan will fully fund contracted
mining and construction of projects at the Mariposa site 
    ** ADY stock trading at it highest level since Jan. 20
    ** About 3.1 mln shares change hands, compared with the
30-day average volume of 1.1 mln shares
    ** As of previous close, stock had risen 16.67% this year

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))