Australia's St George Mining jumps on Amperex investment for lithium exploration

St George Mining

17/10/2023 01:50

** Shares of St George Mining Ltd  SGQ.AX  rise as much as
13.16% to A$0.043, their best day since July 6
    ** The lithium miner says Hong Kong-based battery maker
Amperex Technology Ltd (ATL) will invest A$3 mln ($1.91 mln) for
10% stake in unit Lithium Star
    ** Says funds will be used to accelerate exploration at
lithium projects in Western Australia
    ** Adds ATL and SGQ continuing talks for partnering on other
lithium business opportunities
    ** Stock hits highest level since Sept 11
    ** More than 1.9 million shares change hands, vs the 30-day
average volume of 674,083
    ** Stock down 44% YTD, as of last close

    ($1 = 1.5733 Australian dollars)

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