Askari Metals jumps most in 11 months on agreement with Shanghai-listed co

Highland Metals

20/10/2022 02:01

** Shares of metal explorer Askari Metals  AS2.AX  rise as
much as 38% to A$0.545, eyeing their best session since Nov. 17,
2021
    ** AS2 says signed strategic agreement with Shanghai-listed
Zhejiang Kanglongda Special Protection Technology Co to develop
Australian lithium assets 
    ** Partnership for development of Barrow Creek and Eastern
Pilbara Lithium assets positioned for Chinese markets
    ** Under agreement, Zhejiang Kanglongda to be offered
preferred offtake position in relation to commercial production
from the assets
    ** Zhejiang Kanglongda to assist co with lithium chemical
downstream processing techniques, opportunities and access to
capital for future development
    ** Shares hit their highest levels since May 23
    ** About 1.3 mln shares change hands, compared with the
30-day average volume of around 245,000 shares
    ** Stock up ~71.7% this year, as of last close
 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))