Referenced Stocks

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

By Midnight Trader,  August 05, 2010, 03:01:04 PM EDT

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 The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: FCX



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