Australia's PPK Group rises most in two months on govt funding

PPK

16/05/2022 04:35

** Shares of PPK Group  PPK.AX  surge as much as 11.6% to
A$3.27, their biggest intraday pct gain since March 17
    ** The mining and industrial tech co says that three of its
group companies have secured A$6.5 mln ($4.48 mln) funding from
the federal government's inaugural Trailblazer University
Program 
    ** Says Li-S Energy  LIS.AX , in which PPK owns 50.2% stake,
to receive up to A$5 mln to undertake further R&D on its battery
technology
    ** Adds that BNNT technology will get up to A$1 mln and
White Graphene to get A$500,000 
    ** Stock has fallen 66.7% this year, as of last close

($1 = 1.4522 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))