Australia's St George Mining rises on investment from China-based firm

St George Mining

21/12/2022 02:10

** Shares of St George Mining Ltd  SGQ.AX  jump as much as
8.6% to A$0.076, their highest since Dec 14
    ** Nickel miner announces strategic A$2 mln ($1.34 mln)
investment in co by China-based lithium-ion battery modules
maker Sunwoda Electronic Co Ltd  300207.SZ   urn:newsml:reuters.com:*:nASXc8t03L
    ** Says the investment underpins a memorandum of
understanding entered into by St George and Sunwoda's parent,
Xinwei, to consider partnering on lithium business opportunities
    ** Stock posts its biggest intraday pct gain since Dec 12
    ** More than 9.4 mln shares change hands, 1.6 times the
30-day average volume 
    ** SGQ is down 12.9% while Sunwoda is down 46% this year, as
of last close
($1 = 1.4970 Australian dollars)
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))