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Royal Nickel Gains Most in Six Months After Tsingshan MOU
Mar. 13, 2013 07:02PM PST
Base Metals Investing
Bloomberg reported that Royal Nickel Corp. (TSX:RNX) rose 22 percent, the most in six months, after it signed a memorandum of agreement (MOU) with Tsingshan Holding Group Company Ltd., a Chinese stainless steel producer.
Bloomberg reported that Royal Nickel Corp. (TSX:RNX) rose 22 percent, the most in six months, after it signed a memorandum of agreement (MOU) with Tsingshan Holding Group Company Ltd., a Chinese stainless steel producer.
As quoted in the market news:
The two companies will consider offtake and partnership agreements after a feasibility study is completed on Royal Nickel’s Dumont project, the company said today in a statement. Tsingshan also expects to build a plant that would use nickel sulphide concentrate, which will be produced at Dumont, to produce stainless steel.