Sean Mason | February 8, 2016 | SmallCapPower
More gold sector M&A had some speculators buzzing Monday. Here’s some small stocks making big moves on Monday, February 8, 2016 (as of 4 pm EST):
Lake Shore Gold Corp. (TSX: LSG) shares gained as much as 11% before ending up 5% to $1.57 on Monday after the Canada-based gold producer announced that it has agreed to be acquired by Tahoe Resources Inc. (TSX: THO) in an all-stock transaction valued at approximately C$945 million. Lake Shore Gold shareholders will receive 0.1467 of a Tahoe common share for each LSG share held.
Did you know that Lake Shore Gold was one of our Top Gold Junior Takeover Targets for 2016? (See the article here). It is also a Ubika Gold 20 component company.
As well, shares of The Intertain Group Limited (TSX: IT) slipped 10% to $7.77 as the online gaming company provided an update on the review of its independent committee established on December 17, 2015, following the release that day of a report targeting Intertain by a self-described short seller.
OceanaGold Corporation (TSX: OGC), meanwhile, reported that pursuant to its equity participation rights with Gold Standard Ventures (TSXV: GSV), it has elected to purchase 12,565,265 common shares of GSV, at a cost of C$1.00 per common share, in order to extend its equity ownership in GSV from 15.2% to 19.9%. OceanaGold stock moved up 11% to $3.72 following the announcement.
Hi, did you know SmallCapPower accepts blog submissions? You can contact me at sean@smallcappower.com.
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