Australia's Highfield Resources climbs on construction licence for Muga project

Highfield Resources

29/03/2023 02:11

** Shares of Highfield Resources Ltd  HFR.AX  rise as much
as 32.2% to A$0.76, posting their biggest intraday percentage
gain since October 2021
    ** HFR stock hits highest level since Dec. 5, 2022
    ** Mineral explorer says it got licence for construction of
the Muga project by the Townhall of Sangüesa in Navarra 
    ** Co to begin construction in the second half of 2023 
    ** Canaccord Genuity maintains PT at A$1.66, keeps
"speculative buy" rating
    ** Muga remains the most material potential catalyst for the
company in medium term - Canaccord Genuity 
    ** Stock down 0.9% this year, as of last close

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))