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.
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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