Papyrus Australia eyes most gains in 8-weeks on Egypt govt deal progress

Papyrus Australia

01/06/2022 03:43

** Shares of agricultural waste fiber tech firm Papyrus
Australia  PPY.AX  jump as much as 10.2% to A$0.065, on track
for their biggest intraday pct gain since April 7 
    ** Co says it is nearing the finalization of deals with the
Egyptian government to supply equipment and licences for its
technology and products
    ** In this regard, co has signed a cooperation protocol
roadmap with Egypt's National Authority for Military Production
(NAMP)  urn:newsml:reuters.com:*:nASX6QJDV7
    ** Says co will now work NAMP to finalise the individual
deals and contracts over the next three months 
    ** Shares hit their highest levels since May 2 
    ** More than 212,600 shares change hands as compared with
the 30-day average volume of ~177,409 shares  
    ** Stock down 6.4% this year, as of last close, vs a 3%
decrease in the benchmark S&P/ASX 200 index  .AXJO  


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