Australia's Estrella jumps most in over 10 weeks on nickel project update

Estrella Resources

20/05/2022 05:03

** Shares of nickel miner Estrella Resources  ESR.AX  surge
as much as 13% to A$0.026, their biggest intraday pct gain since
March 8 
    ** ESR says it will seek to transition its Spargoville
nickel sulphide project in Western Australia to a producing
asset, as it hopes to benefit from elevated nickel prices
    ** Adds it has secured a rig to confirm mineral resource
estimate for the Spargoville project
    ** "Time is right for Estrella to kick-off development
activities for our Spargoville nickel sulphide assets" -
Managing Director Chris Daws
    ** Stock hits its highest since April 13
    ** Stock down 8% this year, as of last close

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))