Australia's Alpha HPA hits over 7-month high on loan approval

Alpha HPA

17/04/2024 05:19

** Shares of Australia's Alpha HPA  A4N.AX  rise as much as
15.2% to A$1.175, their highest level since Sept 2023
    ** Stock posts its biggest intraday pct gain since early Nov
2023
    ** The alumina supplier receives approval from Australian
govt for A$400 mln ($256.64 mln) fund     
    ** Adds funds for its Stage 2 of the HPA First Project in
Northeast Australia
    ** Funding to enable co establish full-scale commercial
aluminium purification facility
    ** Loan to be provided from Australian govt under its
critical minerals strategy
    ** Around 2.2 mln shares change hands, vs 30-day average
volume of 1.3 mln shares
    ** Alpha stock down 2.9% YTD, as of last close

    ($1 = 1.5586 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))