Aussie copper-gold miner Askari Metals rises on investment from Chinese cobalt miner

Highland Metals

09/05/2023 01:37

** Copper-gold miner Askari Metals Ltd  AS2.AX  rise as much
as 5% to A$0.42, highest level since May 4
    ** Says Huayou International Resources (Hong Kong) Ltd, a
unit of Chinese cobalt miner Zhejiang Huayou Cobalt Co
 603799.SS , invests A$2.5 million ($1.70 million) in AS2
    ** AS2 issues 4.5 mln shares at A$0.55 apiece - a 37.5%
premium to its last close of A$0.40
    ** Says funds from Huayou to speed up exploration at the Uis
lithium project in Namibia
    ** AS2 down 8.1% this year as of last close


($1 = 1.4743 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))