PERTH (miningweekly.com) – The share price of junior RMG increased by more than 22% on Tuesday on news that the company had entered into a memorandum of understanding with Natural Elements regarding the potential acquisition of the Luoyu copper mine, in China.
Under the agreement, RMG will have a six-month exclusivity period in which to conduct due diligence on the mine, with a view to potentially acquiring it.
The junior’s shares were trading at a high of 1.2c each on Tuesday, up from an opening price of 1.1c a share.