Eurasian Minerals Up 6% on plans to Buy Swedish Royalties, Properties; Commences Exploration

By Staff,

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Eurasian Minerals Inc. (EMX.V) is up 6% after it announced the signing of an agreement to buy from Freeport-McMoRan Copper & Gold Inc. ( FCX ) its wholly owned subsidiary, Phelps Dodge Exploration Sweden AB.

PDES's main assets include 1% net smelter return royalties over two advanced copper projects in northern Sweden (the Viscaria and Adak Projects), as well as two exploration permits and a comprehensive exploration database. In addition, EMX has commenced work on six previously granted exploration permits covering an area of approximately 213 square kilometers over prospective geology south of Kiruna, northern Sweden.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: FCX

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