Australia's St George Mining hits 5-1/2-month high on MoU for Brazil project

St George Mining

12/02/2025 01:33

** Shares of St George Mining  SGQ.AX  rise 17.6% to A$0.04
    ** Stock hits its highest level since August 27, 2024
    ** The diversified miner signs an MoU with Shandong Xinhai
Mining Technology & Equipment for the development of SGQ's Araxá
niobium-REE Project in Brazil
    ** Shandong Xinhai Mining Technology & Equipment will invest
A$8 million ($5.03 million) as part of the A$20 million equity
fundraising for the project's acquisition
    ** Stock up 56% YTD, including current session's moves

    ($1 = 1.5898 Australian dollars)

 (Reporting by Manasi Dasa Sundeep in Bengaluru)
 ((Manasi.DasaSundeep@thomsonreuters.com;))