Western Copper and Gold: Rises on Rio Tinto's investment

Western Copper and Gold

17/05/2021 15:18

** Shares of Canadian miner  WRN.TO  up as much as 10.05% at
C$2.19
    ** Co announces C$25.6 mln investment by Rio Tinto Canada
Inc to advance its copper-gold Casino Project in Yukon, Canada
 urn:newsml:reuters.com:*:nCNW85ckXa
    ** Rio Tinto to purchase 11.8 mln common shares at
C$2.17/share for gross proceeds of ~C$25.6 mln, resulting in Rio
Tinto owning ~8% of co's outstanding shares
    ** Riot Tinto will also exercise the right to appoint one
member to a Casino project technical committee
    ** RBC Capital Markets is acting as financial adviser
    ** Up to last close, stock up ~39% YTD

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))