Australia's Gateway Mining rises most in a month on deal with Rio Tinto

Latitude 66

03/05/2022 04:53

** Shares of mineral exploration co Gateway Mining Ltd
 GML.AX  rise as much as 8.3% to A$0.013
    ** Stock set for its best day since March 29, if gains hold 
    ** GML says it has entered into an agreement with a unit of
Rio Tinto  RIO.AX  and DiscovEx Resources  DCX.AX , which gives
the Rio Tinto unit the option to acquire the iron ore rights of
two tenements of DiscovEx's Sylvania Project  urn:newsml:reuters.com:*:nASX2t8Vlz
    ** Gateway, which holds royalty over the tenements, to
receive up to A$120,000 in option payments from the Rio Tinto
unit 
    ** Stock down 7.7% this year, as of last close

 (Reporting by Anan Ashraf)
 ((Anan.Ashraf@thomsonreuters.com;))