Australia's Nickel Industries at 8-month high on stake hike in Indonesia project

Nickel Industries

02/04/2024 03:49

** Shares of Nickel Industries  NIC.AX  climb as much as
4.9% to A$0.850, their highest since July, 2023 
    ** Miner says its stake in Excelsior HPAL project in
Indonesia increases to 27.5% after purchase of an additional
13.75% interest from Singapore-based holding company Excelsior
International Investment
    ** Says additional 13.75% interest in project was secured
through cash payment of $316.3 mln 
    ** Shares post their biggest intraday pct gain since March
21 
    ** Stock sixth biggest pct gainer on the benchmark S&P/ASX
200 index  .AXJO 
    ** Stock up 16.6% this year, as of last close, vs a 4.1%
increase in benchmark index  .AXJO 


 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))