09:50 AM EDT, 09/25/2024 (MT Newswires) -- SAGA Metals (SAGA.V) rose 1.4% on its second day of trading on the Toronto Stock Exchange.

The shares traded at $0.395 at last look.

Saga Metals owns four properties in Canada targeting minerals, including uranium, lithium, titanium, vanadium, and iron ore.

One of its projects, the Legacy Lithium Project in James Bay, Quebec, is under an option agreement with Rio Tinto Exploration Canada (RTEC), which may acquire a 51% interest in the property over four years if certain conditions are met, including $9.57 million in exploration spending. RTEC has already made a cash payment of $410,200 to Saga.

RTEC also has the option to increase its stake to 75% over five more years by spending an additional $34.2 million on exploration, Saga said.

Price: 0.40, Change: +0.01, Percent Change: +1.28