Gold Junior Jumps on Goldcorp Project Acquisition

Orla Mining Ltd. (CVE:OLA), a gold junior, moved higher after announcing that it has agreed to acquire the Camino Rojo Project in Mexico from Goldcorp Inc.

Sean Mason | June 21, 2017 | SmallCapPower

A Mexico project acquisition from Goldcorp ignited shares of a gold junior Wednesday. Here’s some small stocks making big moves on Wednesday, June 21, 2017 (as of 4 pm EST):

Orla Mining Ltd. (TSXV: OLA) shares climbed 18% to $1.30 on Wednesday after the gold junior announced that it has agreed to acquire the Camino Rojo Project in Mexico from Goldcorp Inc. in consideration for 31.9 million common shares of Orla and a 2.0% NSR. Camino Rojo is a gold and silver oxide heap leach project containing 1.7 million ounces of gold reserves.

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As well, shares of Concordia International Corp. (TSX: CXR) gained 20% to $1.85 as the international specialty pharmaceutical company focused on generic and legacy pharmaceutical products said it is nearing completion of a long-term growth strategy, which it intends to communicate with its stakeholders in the second half of 2017. The Company added that it is exploring and evaluating potential transactional alternatives, including initiatives to optimize its capital structure.

Aurora Solar Technologies Inc. (TSXV: ACU), meanwhile, reported that it has received a volume order from a confidential customer in the People’s Republic of China for multiple Decima Gemini systems and Veritas wafer and process mapping software, which has contributed to Aurora Solar achieving a record backlog in sales with 17 high-end Decima measurement units and 9 Veritas process visualization systems shipping by the end of the summer. Aurora Solar Technologies stock popped 78% to $0.33 following the announcement.

Finally, CobalTech Mining Inc. (TSXV: CSK) shares powered 27% higher to $0.14 after the explorer announced that it has agreed to be acquired by First Cobalt Corp. (TSXV: FCC) through a negotiated share exchange transaction. Financial terms were not disclosed.

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Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.

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