Australia's Leigh Creek Energy at near 2-year-high on urea facility construction deal

DL E&C

04/05/2021 02:08

** Shares of gas firm Leigh Creek Energy  LCK.AX  soar as
much as 17% to A$0.31, their highest since May 10, 2019
    ** Enters https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02370984-2A1296133?access_token=83ff96335c2d45a094df02a206a39ff4
 binding heads of agreement with South Korean construction firm
DL E&C Co  375500.KS  to negotiate terms for construction of a
urea production facility in South Australia
    ** Says DL E&C will be contracted for feasibility, front-end
engineering and design, and engineering, procurement,
construction and commissioning of the project
    ** LCK to retain 100% ownership of the urea production
facility
    ** LCK rises most since April 26; on track to post its
fourth consecutive gain session
    ** More than 5.2 mln LCK shares change hands, compared with
the 30-day average of over 1.7 mln shares
    ** Stock up 56% this year as of last close

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))