Australia's Anax Metals sees best day in three weeks on loan agreement

Anax Metals

07/12/2022 04:02

** Shares of Anax Metals Ltd  ANX.AX  jump as much as 11.3%
to A$0.059, biggest intraday pct gain since Nov. 16 
    ** Minerals explorer says it has entered into an unsecured
loan agreement with Jetosea Pty Ltd, which has agreed to lend
A$2.5 million ($1.67 million) to co
    ** Says proceeds will be used to fund the ongoing definitive
feasibility study at the Whim Creek Copper Project in Western
Australia, among others 
    ** Shares hit their highest level since Nov. 30
    ** Stock has fallen 36.1% this year, as of last close 
($1 = 1.4939 Australian dollars)
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))