Australia's Infinity Lithium up on positive court ruling for San Jose project

Infinity Metals

11/10/2021 04:16

** Shares of the lithium explorer  INF.AX  rise as much as
30.4% to A$0.15, marking their biggest intraday pct gain since
July 14
    ** Stock hits its highest level since July 16
    ** Co says the Contentious-Administrative Court (CAC) in
Cáceres, Spain ruled in favour of its JV partner Technologia
Extremeña Del Lito S.L. (TEL) in relation to the San Jose
Lithium Project in Spain  urn:newsml:reuters.com:*:nASXwJkkB
    ** In September 2019, the local city council claimed that co
and TEL acted outside the restoration plan of the San Jose
project and placed a halt on field work 
    ** Co says CAC upheld TEL's appeal relating to
rehabilitation and restoration plan of the project and concluded
that the city council resolution was "contrary to law" 
    ** More than 8 mln shares trade hands, 4.5 times the 30-day
average volume of 1.8 mln shares
    ** As of last close, stock has fallen 25.8% YTD

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))