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via finance.yahoo.comBusiness & Companies

New Hope shares hit near one-month high as it agrees $1.3 bln Malabar deal

FROM THE WIRE · FINANCE.YAHOO.COM

Investing.com -- New Hope Corp (ASX:NHC) shares rose to a near one-month high on Monday after the Australian coal producer agreed to acquire the remaining stake in Malabar Resources it does not already own, securing full control of the Maxwell underground mine and expanding its…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bullishTaking full control of Malabar and the Maxwell mine can reshape New Hope's production base and affect its share price.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01New Hope shares rose 4.6% to A$6.11, their highest level since September 21.
  2. 02New Hope agreed to acquire the remaining Malabar Resources stake it does not already own.
  3. 03Malabar's equity is valued at about A$1.8 billion on a fully diluted basis.
  4. 04The benchmark S&P/ASX 200 was last up 0.2%.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
New Hope Corporation LimitedNHC.AUStock6.10 AUD+0.41%today +4.45%Positive S&P/ASX 200INDEX:ASX200Index8,824.30-0.03%today +0.20%Positive
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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