Australia's Diatreme rises on MOU with China's Flat Glass, offtake plans

Diatreme Resources

13/07/2023 02:03

** Shares of Australia's Diatreme Resources  DRX.AX  rise as
much as 4.2% to A$0.025, hitting their highest since July 10
    ** Co signs a memorandum of understanding (MOU) with China's
Flat Glass Group  601865.SS  
    ** Says the MOU will help negotiate and facilitate long-term
binding offtake deals for supply of photovoltaic grade,
high-purity low iron silica from co's Northern Silica Project
for FLAT's glass manufacturing operations in China
    ** FLAT will also examine the potential of onshore
photovoltaic grade manufacturing in Queensland
    ** Diatreme stock down 11.1% this year, as of last close

    
    

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))