Australia's Black Rock Mining surges on graphite deal with Posco

Posco International

29/05/2023 02:41

** Shares of Black Rock Mining Ltd  BKT.AX  jump as much as
13% to A$0.13, on track for best pct gain since May 8, if gains
hold
    ** Miner signs binding offtake and $10 mln prepayment
agreements to supply high purity graphite from Mahenge's Module
1 to South Korea's POSCO International Corp  047050.KS  
    ** Continues to progress debt financing with credit-approved
term sheets anticipated in Q2 CY23
    ** More than 1.1 mln shares change hands, twice the 30-day
average volume 
    ** Stock down 14.8% this year, as of last close


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