Gold Explorer Shines on Property Acquisition

Trillium Gold Mines Inc. (TSXV:TGM), a gold explorer, climbed after agreeing to acquire the Rivard Property in the Red Lake Mining District

Sean Mason | August 4, 2020 | SmallCapPower

A Red Lake property acquisition powered shares of a gold explorer Tuesday. Here’s some small stocks making big moves on Tuesday, August 4, 2020 (as of 4 pm EST):

Trillium Gold Mines Inc. (TSXV:TGM) shares surged 21% to $2.35 on Tuesday after the gold explorer announced that it has agreed to acquire the Rivard Property, contiguous to its Newman Todd Property, in the Red Lake Mining District of northern Ontario, in consideration for $400,000 plus 400,000 Trillium Gold shares payable over 3.5 years.

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As well, shares of Tucows Inc. (TSX:TC) jumped 14% to $93.21 as the provider of network access, mobile technology services, domain names and other Internet services said DISH Network Corporation has chosen Tucows as a technology partner for its retail wireless business, which includes the acquisition of Tucows’ Ting Mobile assets.

Southern Arc Minerals Inc. (TSXV:SA), meanwhile, reported that it intends to distribute securities (currently owned by the Company) of Japan Gold Corp., Tethyan Resource Corp., and Rise Gold Corp., to the shareholders of Southern Arc on a pro-rata basis. Southern Arc Minerals stock popped 52% to $0.60 following the announcement.

Finally, Engineer Gold Mines Ltd. (TSXV:EAU) shares rose 9% to $0.18 after the gold junior announced that it has agreed to acquire the Tag property, which adjoins its Engineer Gold Mine property, located 30 km west of Atlin, British Columbia.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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