EcoGraf Limited Achieves Major Growth Following Mining License Approval
EcoGraf Limited’s shares surged 47.6% to A$0.155, their largest rise since February 2021, due to receiving a life-of-mine special mining license for its Epanko Graphite project from the Tanzanian government. The trading volume was 4.2 million shares, significantly higher than the average, with the stock increasing by 59.1% this year.
Shares of EcoGraf Limited (EGR), an Australian mining company, experienced a significant surge of 47.6%, reaching A$0.155, marking their largest intraday increase since February 5, 2021. This uptick has propelled the stock to its highest mark since May 31, 2024. The substantial gains can be attributed to the recent announcement regarding the company’s Epanko Graphite project, which has been granted a life-of-mine special mining license by the Government of Tanzania.
In addition, trading volume for EcoGraf exceeded 4.2 million shares, a stark contrast to the 30-day average of 669,362 shares, indicating heightened investor interest. To date, the stock has experienced an impressive increase of 59.1% this year, reflecting both investor confidence and the positive developments surrounding the company’s operations in Tanzania.
In summary, EcoGraf Limited has achieved notable momentum with a 47.6% stock price increase, largely due to the securing of a special mining license for its Epanko Graphite project in Tanzania. The significant rise in trading volume and the year-to-date increase of over 59% highlight the growing investor interest and confidence in the company’s prospects.
Original Source: www.tradingview.com
