Australia's Heavy Minerals hits record high on mineral resource estimate upgrade

Heavy Minerals

02/05/2022 03:52

** Shares of Heavy Minerals  HVY.AX  soar as much as 18% to
a record high of A$0.295, after co upgrades mineral resource
estimate
    ** HVY says the maiden mineral resource estimate at its Port
Gregory Garnet Project in Western Australia has been increased 
 urn:newsml:reuters.com:*:nASX1LW632 
    ** Adds that the amount of garnet, a type of silicate
contained in the project site is equivalent to five years of
global demand 
    ** Stock set for biggest intraday percentage jump since Jan.
28    
    ** Trading volumes are nearly 9 times their 30-day average,
with almost 1.6 mln shares traded so far 
    ** Stock up 47.1%% YTD, as of last close 
    


 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))