Australia's Avenira rises to near 1-month high as co secures investment from largest shareholder

Avenira

10/03/2025 01:06

** Shares of Avenira AEV.AX rise 28.6% to A$0.009, their highest levels since Feb 13

** Stock eyes best trading session since late July 2024, if current gains hold

** The specialty miner says it has secured an investment from a unit of China-based Sichuan Hebang Biotechnology 603077.SS, co's largest shareholder

** The investment comprises a A$7.567 mln ($4.77 mln) placement at an issue price of A$0.007, in line with stock's last close

** Sichuan Hebang also agrees to provide unsecured draw-down loan facility

** Funds to be used to advance co's Wonarah Direct Shipping Ore (DSO) phosphate project in the Northern Territory

** Stock up 5.9% YTD, including current session's moves

($1 = 1.5853 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))