Leo Lithium hits record high on raising $72 mln from China's Gangfeng Lithium

Leo Lithium

29/05/2023 01:56

** Shares of Leo Lithium Ltd  LLL.AX  jump as much as 13.1%
to a record high of A$0.82
    ** Lithium miner among top gainers on the ASX all ordinaries
index  .AORD  
    ** Leo signs deal with a unit of China's Ganfeng Lithium
Group Co Ltd  002460.SZ  to raise A$106.1 mln ($71.97 mln) and
to cooperate for the ramp-up of its Goulamina project in Mali
    ** Under deal, Leo and Ganfeng will undertake a study into
expanding the combined production capacity of Goulamina Stages 1
and 2 to 1 mln tonnes per annum
    ** Stock posts its biggest intraday pct gain since March 28 
    ** Stock up 49.5% this year, as of last close

($1 = 1.4743 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))