Australia's Techgen Metals at near 10-month high on deal with Rio Tinto unit

Techgen Metals

05/09/2022 02:40

** Techgen Metals Ltd  TG1.AX  climbs as much as 24.4% to
A$0.255, its highest since Nov 16, 2021
    ** Gold-copper miner enters a binding farm-in term sheet
with global Rio Tinto's  RIO.AX  unit Rio Tinto Exploration for
TG1's Harbutt range project in Western Australia  urn:newsml:reuters.com:*:nFWN3090WT
    ** Says Rio Tinto Exploration may earn an 80% JV interest in
the project by sole funding A$3 mln ($2.04 mln) of exploration
within 5 years
    ** Says Rio Tinto's unit commits to incurring and sole
funding a minimum exploration expenditure of A$250,000 before
Dec 31, 2023
    ** TG1 marks its biggest intraday pct gain since April 8,
2021
    ** As of last close, TG1 shares up 46.4%


($1 = 1.4732 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.Jain@thomsonreuters.com;))