Australia's AML3D gains on alloy test contract with UK's BAE Systems

AML3D

15/04/2025 04:49

** Shares of AML3D AL3.AX rise 3.2% to A$0.16, their highest level since April 4

** Technology firm says it entered into a contract with UK-based defence solutions firm BAE Systems BAES.L under which it will source 8.5 tonnes of Nickel Aluminium Bronze alloy feedstock

** Contract for A$0.83 million ($527,050.00)

** Contract allows co to expand into the UK defence market, it says

** Stock rose as much as 6.5% earlier in the day, to log its biggest intraday gain since April 10

** AL3 down 16.2% YTD

($1 = 1.5748 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)

 ((Adwitiya.Srivastava@thomsonreuters.com))