Australia's Nickel Industries jumps on $245 million finance facility

By Reuters News

** Shares of Nickel Industries NIC.AX rise as much as 3% to A$0.695, their largest intraday pct gain since September 23

** Nickel producer says PT Fajar Metal Industry has signed a $245 million non-recourse project finance facility

** PT Fajar owns the Excelsior nickel cobalt (ENC) High-Pressure Acid Leaching project, in which the co has a 46% stake

** Company adds the facility will not be consolidated into its group debt and does not impact its existing group financial covenants

** More than 7.6 million shares change hands vs 30-day avg volume of around 7.4 million shares

** Stock down 19.2% YTD, including the day's moves

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.