Australia's Magnis Energy Technologies climbs on graphite offtake deal

Ryzon Materials

20/12/2021 24:44

** Shares of Magnis Energy Technologies  MNS.AX  jump as
much as 13.8% to A$0.495, set for their best session since Nov.
23 
    ** Lithium ion battery maker says it has signed a graphite 
offtake agreement with Luxembourg-based commodity trader Traxys
 urn:newsml:reuters.com:*:nFWN2T400C
    ** Co to deliver 600,000 tonnes of natural graphite during
the six-year period starting late 2024
    ** Co says deal will give future sales for its project in
South-East Tanzania 
    ** Stock hits highest since Dec. 3 
    ** As of last close, stock has more than doubled in value
this year

 (Reporting by Navya Mittal)
 ((Navya.Mittal@thomsonreuters.com;))