Australia's Magnis Energy jumps on U.S. battery plant progress

Ryzon Materials

26/05/2022 03:56

** Shares of the lithium-ion battery maker  MNS.AX  rise as
much as 4% to A$0.395, their biggest intraday pct jump since May
20 
    ** Co says its majority-owned Imperium3 New York battery
plant based in the United States is 72% complete, as of
end-April    urn:newsml:reuters.com:*:nASX59x5sn
    ** Says fully automated production of more than 100 cells
using high volume manufacturing components on track to start
from late June 
    ** Shares set to snap a two-day losing streak 
    ** Stock down 33.9% this year, as of last close, vs a 4.3%
decrease in the benchmark S&P/ASX 200 index  .AXJO  


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