The FTSE-100 listed mining giant confirmed media reports this morning that it was considering making a bid for Arcadian Lithium, the $3bn US-listed miner. With Arcadian’s stick trading well below recent highs, Rio may be sensing a bargain, although the initial share price reaction saw around 1.5% wiped off. Within the first hour of trade, the Rio Tinto share price had however recovered, sitting close on unchanged.
The company behind the male sexual health therapy Eroxon saw interest in its stock advance this morning following news of another milestone payment being triggered. This follows Haleon’s distribution of online pre-orders as well as the availability of the product in US retailers. The payment will be worth $5m and funds are expected shortly. The Futura Medical share price is just over 7% higher an hour into the day’s trade.
The AIM listed – and as they stress in the press release profitable – mineral company has this morning announced that its wholly owned subsidiary Cornwall Resources Limited will be involved in new, a government funded research centre. The regulatory filing notes that “CRL will co-lead one of the trans-disciplinary work packages within the new Centre, with a focus on using CRL's Duchy of Cornwall licence area as a physical laboratory for new ideas and the development of extraction frameworks.” The development received a warm welcome initially with the Strategic Minerals share price adding around 30% but gains proved unsustainable.
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