Australia's Highfield Resources gains on salt offtake deal

Highfield Resources

01/11/2023 02:37

** Shares of Highfield Resources  HFR.AX  up 11.8% at
A$0.38, set for best day since Oct 25, if gains hold
    ** Mineral explorer says signed a binding offtake agreement
with salt and chemical provider Maxisalt
    ** Co says agreement for supply of minimum 50,000 tonne per
annum (tpa) of vacuum salt with the option to sell up to
75,000tpa
    ** Adds agreement represents around 20-30% of its Muga
project's full phase 1 vacuum salt production 
    ** Stock down 41.4% YTD as of last close
 

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))