BUZZ-Highfield Resources soars on Australia nod for Yankuang Energy's investment

Reuters01-14

** Shares of Highfield Resources HFR.AX jump as much as 20.4% to A$0.295, their biggest intraday gain since April 2024

** Australia's Foreign Investment Review Board clears Yankuang Energy's 600188.SS plan to buy up to $376 mln stake in the potash producer

** Highfield also says it plans to buy Southey potash project in Canada by acquiring Yankuang Energy's unit in the country in a $286 mln deal

** Stock hits its highest level since Oct. 17, 2024

** Over 300,00 shares change hands, 2.2x 30-day average vol

** Stock last year fell by 28.8%

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment