Australia's K-Tig eyes best day in more than 3 years on research project award

Metal Powder Works

06/12/2022 04:25

** Shares of K-Tig Ltd  KTG.AX  rise as much as 52.9% to
A$0.130, set to mark their best day since Oct. 9, 2019 if gains
hold
    ** K-Tig says co along with 2 of its global shipbuilding
partners has been awarded a research project under the U.S.
Navy's national shipbuilding research programme 
    ** Says research programme to demonstrate the suitability of
co's technology for the repair and sustainment of U.S. warships
    ** Says the duration of research project is 12 months and 
KTG will receive about $70,000 by way of research funding
    ** KTG will supply welding services and process protocols
under the project  
    ** Stock hits its highest level since Nov. 16 
    ** More than 775,000 shares change hands, vs the 30-day
average volume of ~353,000 shares
    ** Stock had fallen 72.6% this year, as of last close
 (Reporting By Udbhav Krishna P in Bengaluru)
 ((UdbhavKrishna.P@Thomsonreuters.com))