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home / news releases / WRN - Western Copper unveils C$25.6M Rio Tinto investment

WRN - Western Copper unveils C$25.6M Rio Tinto investment

Western Copper and Gold Corporation
Western Copper and Gold (WRN) +6.7% pre-market after announcing a C$25.6M investment by Rio Tinto (RIO) to advance the company's copper-gold Casino Project in the Yukon.Western says Rio has agreed to subscribe for more than 11.8M common shares at C$2.17 each for C$25.6M in aggregate gross proceeds, which will result in Rio owning ~8% of the company.Rio will have the right to appoint one member to a Casino Project technical committee and one director of the company, if its ownership stake increases to at least 12.5%.Western Copper recently released exploration results from Casino, saying its 2020 drill program extended mineralization at the Northern Porphyry discovered in 2019 and confirmed the importance of the higher-grade deposit core.

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Western Copper unveils C$25.6M Rio Tinto investment
Stock Information
Company Name: Western Copper and Gold Corporation
Stock Symbol: WRN
Market: NYSE
Website: westerncopperandgold.com
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