UPDATE: Royal Nickel Jumps 21.5% As Enters Strategic Alliance with Leading Chinese Stainless Steel Producer
Royal Nickel Corporation (RNX.TO), which was trading near year lows, has jumped 21.5% today as it announced it has signed a memorandum of understanding with Tsingshan Holding Group Co., Ltd. The MOU sets out the objectives of the parties to work together in relation to downstream concentrate processing and the potential to enter into an offtake and/or partnership arrangement. Tsingshan is the second largest Chinese stainless steel company and one of the leading innovators in the development of vertically integrated nickel pig iron and stainless steel production operations.
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