Australia's Equus Energy logs biggest intraday jump on Alcoa gas supply deal
AA•Equus shares jump after Alcoa gas deal
Shares of Australia's Equus Energy EQU.AX rose as much as 41.9% to A$0.440, their biggest intraday percentage gain.
The energy company signed a binding long-term gas sales agreement with Alcoa AA.N.
Under the agreement, Equus will supply around 50 terajoules of gas per day to Alcoa for a 10-year supply period following start-up of the Equus Gas Project in Western Australia.
The deal is part of a broader gas sales and funding agreement between Equus and Alcoa, providing Equus with access to up to $30 million of project funding.
The stock was up over 9% year to date.
