Regulus Resources jumps on $15 mln investment from Rio Tinto

Regulus Resources

22/12/2022 16:12

** Canada-based mineral exploration company Regulus
Resources Inc's shares  REG.V  rise 8.6% to 89 Canadian cents
    ** Rio Tinto's  RIO.AX  entity Nuton invests $15 mln (about
C$20.5 mln) in REG  urn:newsml:reuters.com:*:nGNX4q4r8G
    ** REG is completing the private placement at a subscription
price of C$1.02/shr
    ** Upon closing, Nuton will own about 16.5% interest in REG
    ** "Through Nuton, Rio Tinto has developed sulphide leach
processing technologies that could allow for the processing of
high arsenic ores without the need for additional on-site
treatment or paying heavy penalties to a smelter," says REG's
CEO John Black
    ** Utilizing the Nuton sulphide leach technologies could
truly be a game-changer for the AntaKori deposit - REG CEO
    ** Accounting for session gains, REG's stock down 17.6% YTD
 (Reporting by Arshreet Singh in Bengaluru)
 ((Arshreet.Singh@thomsonreuters.com))