DiscovEx Resources Signs option deals with Rio Tinto subsidiary
- DiscovEx Resources (DCX) has executed two binding option agreements with Rio Tinto Exploration, a wholly-owned subsidiary of Rio Tinto (RIO
- Both agreements give Rio the option to acquire 100 per cent of the iron ore rights at four tenements held within the Sylvania project
- The Sylvania project is located approximately 15 kilometres southwest of Newman, Western Australia
- The potential total consideration of the agreements is valued up to $9.3 million, includes option extension fees and option exercise payments, plus a royalty on future production
- DCX shares have ended the day up 14.3 per cent, trading at 0.8 cents
