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An update from Eagle Mountain Mining Ltd. ( (AU:EM2) ) is now available.
Eagle Mountain Mining Limited has entered into a binding option agreement with Marble Mountain Ventures LLC to acquire the Oracle Ridge mine. The agreement grants Eagle Mountain a 12-month exclusive option to purchase the surface and mineral rights of the mine, which includes a Mineral Resource Estimate of 28.2Mt at 1.35% Cu. The deal involves an initial payment of US$1 million upon exercising the option and a final payment of US$9 million before commercial production begins. This strategic move is part of Eagle Mountain’s broader plan to advance the project towards production, potentially enhancing its market position and offering long-term benefits to stakeholders.
More about Eagle Mountain Mining Ltd.
Eagle Mountain Mining Limited is a company in the mining industry, focusing on acquiring and developing mineral resources. The company is involved in projects that aim to secure long-term access to valuable mineral deposits, with a particular focus on copper mining.
Average Trading Volume: 11,001,920
Technical Sentiment Signal: Sell
Current Market Cap: A$9.08M
Find detailed analytics on EM2 stock on TipRanks’ Stock Analysis page.