Australia's Renascor surges on $120 mln loan for graphite facility

Renascor Resources

17/04/2024 04:11

** Shares of Renascor Resources  RNU.AX  surge as much as
32.5% to A$0.110, highest since Feb. 19
    ** Stock posts biggest intraday pct gain since Oct. 23, 2023
    ** Graphite explorer gets A$185 mln (~$119 mln) loan from
government to fund development of its mine in South Australia
    ** Over 13 mln shares traded vs 30-day avg of ~5.2 mln
    ** Stock last up 26.5%, cutting YTD losses to ~19%
 
($1 = 1.5579 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))