Australia's Estrella Resources jumps on ore processing agreement with Glencore unit

Estrella Resources

18/11/2022 24:41

** Shares of Estrella Resources Ltd  ESR.AX  rise as much as
50% to A$0.015, their biggest intraday pct gain since Oct 20,
2020 
    ** The nickel miner says it has entered into an ore
processing and off take agreement with Murrin Murrin Operations,
a unit of Glencore  GLEN.L   urn:newsml:reuters.com:*:nASXSkYvl
    ** Co adds deal helps to move forward with the metallurgical
extraction of 2,000 to 4,000 tonnes of high grade nickel
sulphide ore from the 5A nickel mine in West Australia
    ** Stock posts its highest since Sept 23 
    ** More than 37.5 mln shares change hands, vs the 30-day
average volume of 3.15 mln shares
    ** Stock has fallen 60% this year as of last close
 (Reporting By Udbhav Krishna P in Bengaluru)
 ((UdbhavKrishna.P@Thomsonreuters.com))