Australia's BCI Minerals climbs on selling its Kumina iron ore project

Badlands Resources

22/10/2018 24:55

** Shares of iron ore miners BCI Minerals Ltd  BCI.AX  rise
as much as 11.1 pct to A$0.150, its highest in almost a week 
    ** Stock posts its biggest intra-day percentage gain since
Oct. 9
    ** Mining infrastructure services provider Mineral Resources
Ltd  MMV.V  says it entered into a binding agreement with BCI
Minerals to acquire its Kumina iron ore project for $27 million 
  urn:newsml:reuters.com:*:nASXbxDNsp
    ** Mineral Resources to pay a further $4 mln to BCI when it
completes the first export of iron ore from the Kumina project
and an additional $4 million one year after co achieves first
export
    ** About 1 mln shares change hands, compared with the 30-day
average of 888,146 shares 
    ** BCI Minerals' stock has fallen almost 20.6 pct this year
as of last close
    


 ((Anushka.Trivedi@thomsonreuters.com; +918067491413; Reuters
Messaging: anushka.trivedi.thomsonreuters.com@reuters.net))