Australia's Vulcan Energy Resources up on positive study results from Germany project

Vulcan Energy Resources

16/11/2023 04:02

** Shares of Vulcan Energy Resources  VUL.AX  rise as much
as 11.2% to A$2.870, their biggest intraday percentage gain
since Sept. 15
    ** Stock hits its highest level since Oct. 3
    ** Lithium explorer reports positive results from a bridging
engineering study for its positive zero carbon lithium project
in Germany
    ** Says it reduced risk at the project by streamlining into
one core production area, down from two
    ** Says it now sees capital expenditure on project to be
about 1.40 bln euros ($1.52 bln), down by about 100 mln euros
from previous estimates
    ** About 848,022 shares change hands, compared with the
30-day average of 668,195 shares
    ** Stock down 59.2% YTD, based on last close

($1 = 0.9233 euros)

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