Australia's Maximus Resources hits near 5-month high on Empire Resources settlement

Empire Resources

16/09/2021 06:36

** Shares of Australian copper and gold miner Maximus
Resources Ltd  MXR.AX  climb 5% to A$0.105, highest since April
19 
    ** MXR extends gains to third session, adding 20.69% for the
week so far, after Maximus said on Tuesday a dispute between its
unit and Empire Resources  ERL.AX  had been concluded
 urn:newsml:reuters.com:*:nASX7vVHdB 
    ** ERL says dispute related to contract processing deal
between the cos in 2017  urn:newsml:reuters.com:*:nASX2wRlRP 
    ** Arbitration hearing concluded in March, confidential
settlement payment to EGMS related to the recovery of
arbitration costs was negotiated - MXR 
    ** Empire Resources up 9.09% at A$0.012 
    ** MXR down 35.48% year-to-date, as of Wednesday's close 
    


 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))