MENU

Why the RTG Mining Inc share price rocketed higher

The RTG Mining Inc (ASX: RTG) share price has had a strong finish to the week.

In afternoon trade the mining and exploration company’s shares are up 34% to 37.5 cents. This brings its week-to-date gain to a whopping 147%.

What happened?

This morning RTG Mining announced that through a further direct investment and conversion of loans in Central Exploration Pty Ltd it has increased its interest in the company to 24%.

In addition to this, one of RTG’s major shareholders has a 32% interest in Central.

This is seen as a big win for the company given the massive potential of the Panguna copper and gold mine in Bougainville that Central has an interest in.

Judging by its strong gain, investors don’t appear to be too concerned with the falling copper price which has plagued copper producers such as OZ Minerals Limited (ASX: OZL) this week.

Bill Gates' Prediction Will Give You Goosebumps

Bill Gates is sounding the alarm on what could be a trillion-dollar technology

And when Bill Gates speaks, it pays to listen.

The huge trend is already starting to take off. Click here to learn more today.

Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!