Australia's Renascor Resources hits 11-year high on $132 mln loan grant

Renascor Resources

02/02/2022 02:14

** Shares of graphite miner  RNU.AX  soar as much as 29.2%
to A$0.310, hitting their highest levels since Jan. 2011 
    ** Co says the Australian govt has conditionally approved an
A$185 million ($132.02 million) loan facility to support the
development of Siviour Graphite Project in South Australia
 urn:newsml:reuters.com:*:nASX5N0Hdv
    ** Adds that co aims for the sustainable production of
Australia-made advanced graphite products used in lithium-ion
batteries fuelling electric vehicles through the loan facility 
    ** Shares mark their biggest intra day pct gain since Jan.
17 
    ** More than 46.9 mln shares change hands as compared with
the 30-day average volume of ~18.8 mln shares  
    ** Stock up 60% as of last close, so far this year 



($1 = 1.4013 Australian dollars)

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