Shares of BCI Minerals (ASX:BCI) saw an ascent of up to 5.77% to A$0.275, which is a new peak for the firm since September 28.

The stock showcased its most significant intraday percentage gain since August 28.

The Australian exploration company announced that it has won approval for a A$150 million project finance facility for the Mardie salt project in Western Australia.

The final batch of funding is expected via Canada’s export credit agency.

This increases the total credit approvals for this venture to A$981 million.

Approximately 94,835 shares were traded, in contrast to the 30-day average volume of 220,476 shares.

The stock has dwindled by 3.7% this year, as of the last close.

BCI Minerals is an Australian-based company primarily engaged in mineral exploration and project development.