Royal Nickel Gains Most in Six Months After Tsingshan MOU

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.

Click here to read the full Bloomberg report.