Australia's BlackEarth Mineral eyes best session in 4 months on graphite JV deal

Evion NL

20/10/2021 01:18

** Shares of BlackEarth Minerals  BEM.AX  rise as much as
16% to A$0.145, post their biggest intraday percentage gain
since June 21 
    ** Graphite explorer executes joint venture agreement with
India-based Metachem Manufacturing Co to establish graphite
plant in India  urn:newsml:reuters.com:*:nGLF8jjlDV
    ** Says JV plans to supply a material portion of all imports
of expandable graphite into Europe 
    ** Says plant development plans have commenced with
implementation expected within 3 months, production and sales
projected in mid-2022
    ** Estimated JV revenue of A$9 mln ($6.73 mln) in the first
year, ramping up to ~A$17 mln 
    ** Stock hits highest since Sept. 23 and on track for a
second consecutive session of gains 
    ** About 2.2 mln shares change hands, compared with a 30-day
average of 1.1 mln shares 
    ** Stock had more than doubled in value this year, as of
last close 


($1 = 1.3382 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))