Australia's ChemX Materials hits over five-week high on funding facility

ChemX Materials

04/08/2023 03:21

** Shares of Chemx Materials  CMX.AX  advance as much as
3.3% to A$0.093, hitting their highest since June 26 
    ** The materials technology firm says it has secured a
funding facility of up to A$6 mln ($3.95 mln) via convertible
notes from some of its existing investors 
    ** Says facility is for the progress of the Eyre Peninsula
High Purity Manganese Project in South Australia, among others 
    ** Also announces appointment of Peter Lee as chief
executive officer 
    ** Shares rise for third consecutive day, if current gains
hold 
    ** Stock had fallen ~51.4% this year, as of last close

($1 = 1.5200 Australian dollars)

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))