Australia's Element 25 soars to gain most in 1-1/2 years on robust production

Element 25

06/01/2022 24:47

** The mineral explorer's shares  E25.AX  soar as much as
24.2% to A$1.49, on track for their sharpest single day pct rise
since May 2020 
    ** Says plant production volumes at co's Butcherbird
Manganese Project located in the Pilbara region of Western
Australia shows significant improvements post re-commissioning
 urn:newsml:reuters.com:*:nASXNyP6p
    ** Says a new daily production record of 1,209 tonnes
achieved on Jan. 3, 2022, well above the target nameplate
production of 1,000 tonne per day for the Stage 1 production
plant
    ** Adds that Manganese is emerging as an increasingly
important ingredient for EV batteries used in the making of
battery electric vehicles
    ** Shares hit their highest levels since Nov. 3 
    ** More than 795,600 shares change hands, compared with the
30-day average volume of ~225,300 shares  
    ** Stock has fallen 18.5% in 2021, as of last close


 (Reporting by Roushni Nair in Bengluru)
 ((Roushni.Nair@thomsonreuters.com;))