Metals Australia eyes best day in 5 weeks on high-grade graphite find

Metals Australia

16/01/2024 03:07

** Shares of Metals Australia  MLS.AX  rise as much as 5.9%
to A$0.036, set for their best day since Dec 7, if gains hold 
    ** Stock hits highest level since Jan 5 
    ** The mineral explorer says high-grade flake-graphite
result of 64.3% graphitic carbon (Cg) received at Lac Rainy in
Quebec, Canada
    ** "We see the production of this premium battery-grade
product as an outstanding opportunity to feed a North American
market that is rapidly looking to diversify away from dependence
on Chinese supply," Chairman Mike Scivolo says
    ** Stock has fallen 8.1% this year, as of last close

    

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))