Business
Why the Australian Potash (ASX:APC) share price leapt 9% this morning
Australian Potash Ltd (ASX: APC) shares were on the rise this morning after the company announced its government loan has been approved. At one point during intraday trade, the Australian Potash share price jumped by more than 9% to 18 cents.
However, at the time of writing, the mineral explorer’s shares have retreated back to 16.5 cents, flat for the day so far.
What caused the Australian Potash share price to jump?
The Australian Potash share price surged ahead in morning trade after the company announced that the Northern Australia Infrastructure Facility (NAIF) had approved its $140 million loan.
The company will use the funds to develop its Lake Wells Sulphate of Potash (SOP) project near Laverton in Western Australia.
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