Australia's Lepidico jumps most in over 6 weeks on agreement with Luxembourg firm

Lepidico

16/12/2021 04:30

** Shares of lithium explorer Lepidico  LPD.AX  jump as much
as 18% to A$0.046, their biggest intraday pct gain since Nov. 3
    ** LPD enters https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02467426-6A1068928?access_token=83ff96335c2d45a094df02a206a39ff4
 into a binding offtake agreement for sales-marketing, logistics
and trade finance with Traxys Europe S.A. for 100% of lithium
hydroxide production from co's planned Phase 1 project
    ** Adds Luxembourg-based financial and commercial services
provider Traxys will act as agent for 100% caesium sulphate
solution production from co's chemical plant
    ** The term of the deal is 7 years or delivery of 35,000Mt
of lithium hydroxide with an option to extend 
    ** Stock hits highest level since Nov. 26
    ** Volumes are about 3 times the 30-day average of nearly 49
mln shares
    ** As of last close, LPD up ~290% this year 

    


 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))