Australia's Blackstone Minerals jumps on project talks with Vingroup

Blackstone Minerals

06/06/2022 05:33

** Shares of Blackstone Minerals  BSX.AX  jump up to 13.5%
to A$0.295, their biggest intraday pct gain since May 13, before
entering a trading halt
    ** The Vietnam-focused nickel miner earlier in the day
confirmed it was in discussions with Vingroup  VIC.HM  regarding
its 90%-owned Ta Khoa nickel project in Vietnam  urn:newsml:reuters.com:*:nASX4YB1Cq
    ** Says discussions are ongoing in relation to potential
off-take and funding with the Vietnamese conglomerate 
    ** Blackstone in trading halt citing further details on
discussions https://www.afr.com/street-talk/vietnam-s-vingroup-has-eyes-on-blackstone-minerals-20220531-p5apxx
    ** BSX produces nickel-cobalt-manganese precursors products
for electric vehicle (EV) battery industry
    ** Vingroup's EV making unit VinFast had earlier filed for
IPO in the United States  urn:newsml:reuters.com:*:nL2N2XG0BK
    ** About 2.4 mln shares change hands, compared with the
30-day average volume of 1.5 mln shares
    ** BSX down 54% this year, as of last close

    

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))