Australia's Azure Minerals hits two-month high after SQM acquires 20% stake

Azure Minerals

11/01/2023 24:18

** Shares of Azure Minerals  AZS.AX  jump as much as 37.8%
to A$0.31, hit their highest level since Nov 9, 2022
    ** The mineral explorer says global lithium miner Sociedad
Quimica y Minera de Chile S.A.'s (SQM)  SQMA.SN  unit will make
a A$20 mln ($13.78 mln) investment in co for a 19.99% stake 
    ** Investment comes at an issue price of A$0.2564 per share,
which represents a premium of about 14% to AZS' last close on
Jan 6 before it went on a trading halt
    ** Co set for best day since Oct 19, 2022, if gains hold
    ** More than 1.6 mln shares change hands, compared with the
30-day average volume of about 300,000 shares
    ** Azure stock lost nearly 40% in 2022 
    ($1 = 1.4510 Australian dollars)
 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))