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BUZZ-ASX-listed shares of RTG Mining surge on financing from Glencore's unit

Reuters
Mar 06, 2025
BUZZ-ASX-listed shares of RTG Mining surge on financing from Glencore's unit

** Australian shares of RTG Mining RTG.AX rise 42.1% to A$0.027, their highest level since Feb. 4

** The miner, which is primarily listed on Toronto, says its unit, Mt. Labo Exploration and Development Corp, entered into partnership with Glencore International AG, a Swiss unit of global miner Glencore GLEN.L

** Co says partnership to finance stage 1 of the copper and gold Mabilo Project in the Philippines

** Secured financing facility provides for a total of up to US$30 mln — co

** Stock rose as much as 78.95% earlier in the day, marking its biggest intraday gain since August 25, 2020

** ASX-listed shares of the company are flat YTD, while Toronto-listed shares are down 42.9% YTD

(Reporting by Adwitiya Srivastava in Bengaluru)

((Adwitiya.Srivastava@thomsonreuters.com))

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