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Magnis Energy Technologies Limited ( (AU:RYZ) ) has issued an announcement.
Ryzon Materials Ltd has expanded its engineering agreement with Yantai Xinhai Mining Research & Design Co., Ltd for the Nachu Graphite Project, aiming to fast-track production at 80,000tpa. The $3.5 million contract will be partially financed through the issuance of shares and options, with Xinhai also committing to a $500,000 capital placement for Ryzon, subject to shareholder approval.
More about Magnis Energy Technologies Limited
Ryzon Materials Ltd is a vertically integrated company specializing in lithium-ion battery technology and materials, playing a crucial role in the lithium-ion battery supply chain. The company aims to facilitate the widespread adoption of electric mobility and renewable energy storage, which are essential for the green energy transition.
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$50.38M
Learn more about RYZ stock on TipRanks’ Stock Analysis page.