Australia's Poseidon Nickel rises on govt grant for battery refinery project

Poseidon Nickel

17/03/2022 24:58

** Shares of Poseidon Nickel  POS.AX  rise as much as 12.6%
to A$0.098, their biggest intraday pct jump since Jan. 20
    ** Says https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02500244-6A1082304?access_token=83ff96335c2d45a094df02a206a39ff4
 in partnership with Pure Battery Technologies (PBT), got
confirmation of A$119.6 mln ($87.43 mln) grant from Australian
government
    ** Grant to advance PBT's proposed battery material refinery
hub in Kalgoorlie, Western Australia
    ** POS and PBT are investigating the precursor cathode
active material (pCAM) hub under an MoU executed last year
    ** PBT targeting initial production of up to 50,000 tonnes
p.a. of pCAM from the refinery
    ** POS hits highest since Feb. 14
    ** More than 43.9 mln shares change hands, vs the 30-day
average of 12.5 mln shares
    ** POS among top 10 biggest percentage gainers in the ASX
All Ordinaries index  .AORD 

($1 = 1.3680 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))