Australia's Allegiance Coal climbs on acquiring stake in Canadian firm

Allegiance Coal

02/12/2022 24:11

** Shares of Allegiance Coal  AHQ.AX  rise as much as 8.7%
to A$0.050, eyeing their best day since Oct. 18 
    ** Says it purchased a 10.1% stake in Canada-based Telkwa
Coal Limited for a non-material consideration  urn:newsml:reuters.com:*:nASX2dCv12
    ** The amount loaned by Itochu Corp, which sold its 10.1%
stake in Telkwa to co, amounting to C$500,000 ($372,051.49) will
now fall to be repaid by June 30, 2023.
    ** Stock down ~87.4% this year, as of last close 
($1 = 1.3439 Canadian dollars)
 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))