Australia's Equatorial Resources hits 2-month high on agreement for iron project advancement

Equatorial Resources

04/02/2020 01:14

** Shares of Equatorial Resources Ltd  EQX.AX  rise as much
as 2% to A$0.255, their highest since Dec. 4, 2019
    ** Iron ore explorer says it entered into a strategic
alliance with Congolese miner Rock Mining SARL to advance the
development of its Badondo Iron Project in the Republic of Congo
 urn:newsml:reuters.com:*:nASX68sGGB
    ** Co says as consideration for entering into the agreement,
Rock Mining will be granted a 20% indirect economic stake in
unit Congo Mining Exploration Ltd SARL
    ** About 111,000 shares change hands, compared with the
30-day average of over 67,000 shares

 (Reporting by R.R.Deepti Sri in Bengaluru)
 ((Deepti.sri@thomsonreuters.com))