RMM.L Share News (RMM)

Canada-focused copper and gold producer Rambler Metals and Mining has raised its stake further in Toronto-listed Marathon Gold under the terms of a subscription agreement made in December.Rambler subscribed to buy 797,448 common shares at a price of $0.3135 per share for total proceeds of $250,000. The investment lifted its stake to over 1.97m shares, representing a 3.1% holding.Rambler also has been granted rights to buy additional shares in four quarterly tranches of up to $375,000 per tranches, commencing May 1st, representing potential additional proceeds of $1.5m.Marathon is a gold miner focused on the 100%-owned Valentine Lake property in central Newfoundland.Rambler's President and Chief Executive Norman Williams said there remains a "significant, underexplored trend of mineralisation" at Valentine Lake."The Marathon team continues to add value to the Valentine Lake project. Their focus on the priority targets has led to the recent discovery of near surface high grade gold potential along with providing further direction on the next areas that can be targeted for exploration on the property."The stock was 2.7% lower at 28.7p by 15:23 on Wednesday. BC