Australia's Walkabout Resources jumps on securing funds for graphite mine

Walkabout Resources

29/03/2023 03:35

** Shares of Walkabout Resources Ltd  WKT.AX  jump as much
as 18.2% to A$0.13, their highest level since March 20
    ** Stock set of best day since March 8, if gains hold
    ** Company signs term sheet with emerging markets focused
investment fund manager Gemcorp Capital for a $25 mln debt
facility
    ** Says to use funds to complete construction of Lindi Jumbo
Graphite Mine in Tanzania, expected to complete by end 2023
    ** More than 2 mln shares change hands, compared with the
30-day average volume of about 800,000 shares
    ** Stock last up 9%, cutting YTD losses to 14.3%

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))