BUZZ-Australia's Phoslock Environmental rises most in 12-1/2 years on Phoslock production restart

Reuters12-03

BUZZ-Australia's <a href="https://laohu8.com/S/PSLKF">Phoslock Environmental</a> rises most in 12-1/2 years on Phoslock production restart

** Shares of Phoslock Environmental Technologies PET.AX rise as much as 257.1% TO A$0.025, their biggest intraday gain since February 4, 2013

** The industrial machinery maker says it will be restarting the production of Phoslock, an advanced solution designed to tackle excess phosphorus in water bodies, in China

** Board decided to restart production at the factory in Changxing, China, which had previously stopped in 2021 due to a collapse in the local business - co

** Co says it expects an annual production capacity of about 3,000 tons

** Stock at highest level since August 9, 2023

** Nearly 67.5 million shares change hands, compared with the 30-day average volume of 1 million

** Stock currently up 142.9%, bringing YTD losses to 32%

(Reporting by Adwitiya Srivastava in Bengaluru)

((Adwitiya.Srivastava@thomsonreuters.com))

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