Australia's Red Metal rises on agreement with Oz Minerals

Red Metal

29/01/2019 23:46

** Shares of Red Metal Ltd  RDM.AX  rise as much as 19.79
pct to A$0.115, their highest since Dec 6, 2018
    ** Copper explorer says it executed multi-project option and
joint venture agreement with Oz Minerals Ltd  OZL.AX  
 urn:newsml:reuters.com:*:nASXbdznxr 
    ** Agreement provides Oz Minerals with two-year option to
fund a series of work programmes on six of Red Metal’s
early-stage projects
    ** Stock posts its biggest intraday pct gain since June 15,
2018
    ** About 420,000 shares change hands, compared with the
30-day average volume of about 110,000 shares
    ** Stock fell 33.79 pct in 2018

 ((Soumyajit.Saha@thomsonreuters.com; Reuters Messaging:
soumyajit.saha.thomsonreuters.com@reuters.net))