Australia's Allegiance Coal Ltd rises on coal sale agreement update

Allegiance Coal

28/10/2022 04:20

** Shares of Allegiance Coal Ltd  AHQ.AX  rise as much as
5.6% to A$0.057, their highest since Oct. 18 
    ** The Australia-based co, engaged in the acquisition and
exploration of coal tenements, gives an update on the coal sale
agreement with Marco International Corporation 
    ** Co says Marco has agreed to provide inventory finance to
Allegiance’s operations 
    ** Co further adds Marco and Allegiance will continue to
work collaboratively to secure offtake coal sales
    ** Stock posts its biggest intraday pct gain since Oct. 18
    ** Stock gains for three consecutive sessions
    ** Stock has fallen 85.2% this year, as of last close
 (Reporting By Udbhav Krishna P in Bengaluru)
 ((UdbhavKrishna.P@Thomsonreuters.com))