Australia's Greenwing Resources jumps on fund raising with NIO

Greenwing Resources

13/01/2023 03:01

** Shares of Greenwing Resources Ltd  GW1.AX  jump as much
as 27.3% to A$0.35; set for best day since Sept. 26, if gains
hold
    ** Lithium miner says it has completed placement of shares
to NIO Inc.  9866.HK  through its unit Blue Northstar to raise
about A$12 mln ($8.35 mln)
    ** Says, co has also granted call option to NIO to acquire
between 20%-40% of issued capital of its Andes Litio SA, which
holds options rights over co's San Jorge lithium project in
Argentina
    ** GW1 hits its highest level since Nov. 29
    ** Stock lost ~36% in 2022
($1 = 1.4364 Australian dollars)
 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com))