Gunsynd PLC - London-based investment firm - Invests additional AUD131,000, equivalent to around GBP75,000, in copper-gold exploration and development company Eagle Mountain Mining Ltd. Buys 608,043 Eagle Mountain shares for 0.22 cents, taking its shareholding to 2.1 million shares, a 1.5% stake.
"We are pleased to announce a further investment in Eagle Mountain, which offers further exposure to the copper sector via the development and exploration of the Oracle Ridge project in Arizona, USA. We continue to be encouraged by the robust backdrop to copper prices, which are currently sitting at around USD6,750 a tonne, in light of the recent Chinese government stimulus and global economic recovery," says Gunsynd Non-Executive Director Peter Ruse.
Current stock price: 1.38 pence
Year-to-date change: up 36%
By Ife Taiwo; ifetaiwo@alliancenews.com
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Gunsynd (GUN)