Australia's White Energy down 23% as court dismisses appeal by units

White Energy

14/02/2023 02:40

** Shares of White Energy Company Ltd  WEC.AX  slide as much as
22.8% to A$0.22, their lowest since June 14, 2022
    ** Coal miner says Singapore International Commercial Court
dismissed appeal by units against PT Bayan Resources Tbk and
Bayan International Pte Ltd in connection with the KSC joint
venture
    ** Says court found unit was not able to prove that it
suffered substantial damages as a consequence of breach of
contract terms
    ** Stock posts its biggest intraday pct fall since Jan 23
    ** More than 22,001 shares change hands, vs the 30-day
average volume of 21,792 shares
    ** Stock up 29.6% this year, as of last close
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))