Australia's King Island Scheelite climbs on tungsten supply deal

Group 6 Metals

13/09/2021 03:07

** Shares of tungsten producer King Island Scheelite
 KIS.AX  rise as much as 8.6% to A$0.190, marking their biggest
intraday percentage gain since Sept 6 
    ** Co secured an offtake supply agreement with mining
logistics provider Traxys Europe S.A. for the supply of tungsten
concentrate from its Dolphin Tungsten Project on King Island,
Tasmania   urn:newsml:reuters.com:*:nGLF5SZh4C
    ** Says agreement is for the supply of 90,000 metric tonne
units of tungsten trioxide in concentrate per annum to the
Luxembourg-based firm
    ** Stock up 75% this year, as of last close 

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