Resource Explorer Powers Higher on Takeover Interest

    Ivanhoe Mines (TSE:IVN), a resource explorer, moved up after saying it has received unsolicited interest in the Company and its projects

    Sean Mason | August 29, 2016 | SmallCapPower

    A red-hot resource explorer continued to sizzle Monday following some warm acquisition interest. Here’s some small stocks making big moves on Monday, August 29, 2016 (as of 4 pm EST):

    Ivanhoe Mines (TSE:IVN) shares jumped 14% to $1.91 on Monday after the resource explorer announced that it is seeking strategic advice to help address unsolicited interest that the Company and its projects have received in recent months.

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    As well, shares of Golden Dawn Minerals Inc. (CVE:GOM) climbed 23% to $0.38 as the gold assets acquirer said it will issue a convertible security with a face value of US$2.4 million, which will be used to exercise the Company’s option with Huakan International Mining Inc. to acquire a 100% interest in the Greenwood Project assets in British Columbia.

    Logan International Inc. (TSE:LII), meanwhile, reported that it has agreed to be acquired by a wholly-owned subsidiary of Rubicon Oilfield International Holdings, L.P., for C$1.49 per share in cash. Logan International stock popped 89% to $1.52 following the announcement.

    Finally, GTA Mining and Resources Inc. (CVE:GTA) shares rose 7% to $0.16 after the mineral exploration company announced preliminary metallurgical testing results from the Northshore Property in northern Ontario, which returned peak gold recoveries of 96.3% and 99.5%.

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    To find out more about GTA Resources and Mining, please visit the company’s Investor Hub.


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