Australia's NeuRizer eyes best day in more than 4 years on China contract

Neurizer

01/06/2023 02:30

** Shares of NeuRizer Ltd  NRZ.AX  jump as much as 86.3% to
A$0.095 - set for best day since February 2019, if gains hold
    ** Urea fertiliser producer says it signed a binding
contract with Chinese hydrogen co Meijin Energy Investments
(MEI)
    ** Says contract is to produce hydrogen in China through in
situ gasification (ISG)
    ** NRZ will initially provide services to Meijin through
detailed assessments of 2 sites owned by Meijin  
    ** Following site assessments, NRZ will provide intellectual
property and be the operator at ISG sites under a licensing
agreement 
    ** Adds MEI will pay $25 mln per site as licence fee to co
    ** NRZ stock hits its highest level since April 3
    ** Stock down ~50% YTD, as of last close

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))