Australia's Rex Minerals set for best day in 2-1/2 months on equipment deal
23/05/2023 03:10
** Shares of Rex Minerals RXM.AX rise as much as 4.4% to
A$0.235, set for their best day since March 3, if gains hold
** The diversified miner says it has signed a Letter of
Intent with Hitachi Construction Machinery (Australia)
urn:newsml:reuters.com:*:nFWN37J1XM
** Says agreement is for allocation of mining equipment,
which includes four excavation units ranging in size from 250
tonnes to 600 tonnes, among others
** Adds total equipment cost will be in excess of A$100 mln
($67.83 mln)
** Shares hit highest since May 17
** Rex stock down ~2.2% this year, as of last close
($1 = 1.4743 Australian dollars)
(Reporting by Archishma Iyer)
((Archishma.Iyer@thomsonreuters.com;))