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

Reuters

2025/02/12

** 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;))

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