EcoGraf’s shares surged by 47.6% to A$0.155, the highest since May 2024, after the Tanzanian government issued a special mining license for its Epanko Graphite project. Trading volumes notably exceeded averages, with a 59.1% rise in stock value this year, highlighting robust investor confidence.
Australian mining company EcoGraf (EGR) has seen its shares surge by as much as 47.6%, reaching A$0.155, marking the largest intraday increase since February 5, 2021. This spike in share price is attributed to favorable developments surrounding their Epanko Graphite project in Tanzania, which recently received a life-of-mine special mining license from the Tanzanian government. The stock is currently at its highest level since May 31, 2024, illustrating strong investor confidence.
In terms of trading activity, approximately 4.2 million shares were exchanged, significantly surpassing the 30-day average volume of 669,362 shares. This indicates a growing interest in EcoGraf as the company continues to bolster its position in the graphite market. To date, EcoGraf’s stock has risen by 59.1% this year, reflecting its outstanding performance amid increasing investor interest and positive project developments.
EcoGraf’s recent share price surge of 47.6% is primarily driven by the acquisition of a special mining license for its Epanko Graphite project in Tanzania. With a significant increase in trading volume and a year-to-date stock rise of 59.1%, the company’s favorable market conditions have led to optimistic investor sentiment. Moving forward, EcoGraf is positioned for continued growth as it capitalizes on its graphite production potential.
Original Source: www.tradingview.com
