ATOME PLC (AIM:ATOM) jumped 10% to 87p as it completed the free trade zone contract for its Viletta project in Paraguay.
House broker SP Angel said it was a positive update that demonstrated the support and commitment of the country's government to the Villeta project.
“We now expect the company to finalise the project-level financing with equity partners reassured by the credentials of the offtaker [Yara] and the debt portion already nearly three times covered by expressions of interest.
“Signing a definitive agreement with Yara and completing project funding in the fourth quarter should lead to an FID [final investment decision] and the commencement of construction on Villeta Phase 1 by the end of this year.”
Shares rose 8p today.