Australian Strategic Materials jumps on commercial plant deal with S.Korea's Dongkuk
02/11/2020 01:38
** Shares of Australian Strategic Materials Ltd ASM.AX
rise as much as 9.5% to A$3.45, their biggest intraday pct gain
since Oct. 23
** Speciality metals and rare earths supplier signs a joint
development agreement with a unit of South Korea's Dongkuk
Industries to set up a commercial plant at budget of $1 mln
urn:newsml:reuters.com:*:nASX4mZNLr
** ASM to retain ownership of intellectual property and
commercial rights to the patented technology used in the
250kg/day metal refining plant developed in South Korea
** Stock has more than doubled since listing on July 30 this
year, as of last close
(Reporting by Savyata Mishra in Bengaluru)
((Savyata.mishra@thomsonreuters.com))