Australia's Blackstone Minerals rises on investment and deal with Corazon Mining

Corazon Mining

03/03/2022 02:02

** Shares of Blackstone Minerals  BSX.AX  jump as much as
14.9% to A$0.500, biggest intraday pct gain since Jan. 20
    ** The battery and precious metals explorer announces https://www.asx.com.au/asxpdf/20220303/pdf/456ng5vcsz68rg.pdf
 that it has made a strategic investment in nickel-copper-cobalt
sulphide explorer Corazon Mining  CZN.AX  
    ** Co's initial investment of about A$2 mln  ($1.46 mln)
will earn a 14.32% interest in the common equity of Corazon
    ** BSX and CZN have also entered a Memorandum of
Understanding for collaboration on the production of upstream
and downstream nickel and cobalt concentrates and chemical
products, potential offtake and/or joint ventures
    ** BSX stock hits highest level since Feb. 18
    ** Shares of Corazon Mining rise as much as 15.6% to A$0.037
    ** As of last close, BSX stock down ~23% and CZN stock has
fallen ~15.8% so far this year
    



($1 = 1.3725 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))