** Shares of Metals Australia MLS.AX rise 5.3% to A$0.02
** Stock set for their best trading session since mid January, if current gains hold
** Mineral explorer says its Canadian unit receives C$600,000 ($418,702.02) in grant funding from Quebec Ministry of Natural Resources and Forests
** Funding to be used for research and development of its Lac Carheil Flake graphite concentrate plant in Quebec
** Stock down 13% YTD, including current session's moves
($1 = 1.4330 Canadian dollars)
(Reporting by Nikita Maria Jino in Bengaluru)
((Nikita.Jino@thomsonreuters.com;))
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