Australia's Blackearth Minerals climbs on expendable graphite JV update

Evion NL

12/10/2021 06:06

** Shares of graphite explorer Blackearth Minerals NL
 BEM.AX  rise as much as 4.2% to A$0.125
    ** Says significant work undertaken with the preparation of
a Stage 1 plant development plan of its expendable graphite
joint venture with India's Metachem Manufacturing  Co Pvt  Ltd
 urn:newsml:reuters.com:*:nGLF2ljzW8  urn:newsml:reuters.com:*:nL3N2NQ09X 
    ** Secures a binding commitment from Austria-based
Grafitbergbau to buy up to 2500mt per annum of proposed JV's
expendable graphite
    ** Expects demand for the JV would rapidly expand to meet
projected world-wide supply shortages     
    ** More than 1.3 mln shares traded vs their 30-day moving
avg of about 1 mln shares
    ** Up to Monday's close, stock had more than doubled in
value this year

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com))