Australia's Aguia Resources rises on possible project capex savings at Brazilian projects
03/07/2024 04:45
** Shares of Aguia Resources rise as much as 8.3% to
A$0.026, hitting their highest level since June 24
** Phosphate and copper explorer says significant capital
expenditure (capex) savings identified in Brazilian phosphate
projects
** Co says capex savings identified through use of
pre-existing treatment plants located within an economic
trucking distance of co's phosphate orebodies
** Co says negotiations for lease or purchase agreement for
existing plant at advanced stage, if finalised, will allow
production of same tonnage for less than 25% of original capex
** Stock has risen 33.3% this year, as of last close
(Reporting by Shivangi Lahiri in Bengaluru)
((shivangi.lahiri@thomsonreuters.com))