Shares of Calix Ltd (ASX:CXL) rise as much as 7% to A$4.38, set to gain most since July 3, if trend holds.

The mineral processing firm and Australia’s Pilbara Minerals receive board approvals for the final investment decision on construction at their flagship Pilgangoora lithium project in Western Australia.

Pilbara will handle both the construction and operational phases of the project.

Around 1,31,758 Calix shares change hands, compared with the 30-day average volume of 1,94,323.

Calix stock down 7.6% this year, as of last close.

Calix Ltd is a mineral processing company based in Australia.