Australia's Centrex gains on expenditure cut for Queensland mine expansion

Centrex

07/11/2023 01:18

** Shares of Centrex Ltd  CXM.AX  rise as much as 15.9% to
A$0.080, their highest level since Sept. 20 
    ** Exploration co provides update on stage 1.5 expansion of
its Ardmore phosphate mine in Northwest Queensland
    ** Co says budgeted capital expenditure to complete the
stage 1.5 expansion of mine reduced by 32% to A$17.6 mln ($11.41
mln)
    ** Says stage 1.5 expansion will result in Ardmore reaching
a production capacity of 625 kilo tonnes per annum (ktpa) of
beneficiated phosphate concentrate, once completed 
    ** About 879,684 shares change hand compared to 30-day
average trading volume of 605,405 shares 
    ** Stock down 46.9% YTD as of last close 
   


($1 = 1.5430 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))