Australia's Avenira surges on MoU with Taiwan-based cathode manufacturer

Avenira

26/09/2022 03:29

** Shares of Australia's Avenira Ltd  AEV.AX  rise as much
as 15.4% to A$0.015
    ** Miner says it signed a non-binding MoU with Advanced
Lithium Electrochemistry  5227.TWO , a Taiwan-based LFP cathode
manufacturer  urn:newsml:reuters.com:*:nASX8KHWTJ
    ** MoU to work towards the development of lithium iron
phosphate (LFP) battery cathode manufacturing plant in Darwin,
Northern territory, using co's flagship Wonarah Phosphate
Project
    ** Says parties targeting construction and commissioning of
an initial 5,000-10,000 tonnes per annum LFP plant by 2023/2024
    ** About 15.7 mln shares change hands, compared with the
30-day average volume of 6.4 mln shares
    ** Stock had fallen 21.1% this year, as of last close
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))