Australia's Orion Minerals rises on deal to construct refining facility

Orion Minerals

09/05/2022 02:44

** Shares of Orion Minerals Ltd  ORN.AX  jump as much as
8.3% to A$0.026, their biggest intraday pct gain since April 8
    ** The base metals explorer says it signed exclusivity
agreement with Stratega Metals to develop a specialist battery
product refining facility in the Northern Cape  urn:newsml:reuters.com:*:nASX9dXdwB
    ** Under deal, co will undertake test on concentrates from
its Jacomynspan Nickel-PGE Project in South Africa's Northern
Cape Province
    ** Says it has an exclusive right to earn a 75% interest in
Stratega by funding the construction of a demonstration refinery
plant
    ** Stock touches its highest level since April 26
    ** About 6 mln shares change hands, compared with the 30-day
average volume of 1.4 mln shares
    ** ORN down about 8% this year, as of last close

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))