Australia's Metro Mining set for best day in 3 weeks on offtake agreement

Metro Mining

07/03/2023 01:24

** Shares of Metro Mining Ltd  MMI.AX  jump as much as 12.5%
to A$0.009 - set for best day since Feb 14, if current gains
hold 
    ** Bauxite miner signs MoU with third base load customer for
offtake commencing in 2024 and ramping up in 2025 to 2 million
tonnes per annum 
    ** Expects prices for Australian bauxite to continue to rise
through year
    ** Says remobilising production and services team back to
Bauxite Hills site from next week
    ** More than 39.6 mln shares change hands, thrice the 30-day
average volume 
    ** Stock down 42.9% this year, as of last close

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