A potential long-distance takeover agreement was good news for many shareholders of a gold junior Wednesday. Here’s some small stocks making big moves on Wednesday, October 11, 2017 (as of 4 pm EST):
Legend Gold Corp. (TSXV:LGN) shares jumped 72% to $0.31 on Wednesday after the gold junior announced that it has agreed to be acquired by Altus Strategies Plc, a UK-based prospect generator listed on AIM, in an all-stock transaction following the signing of a non-binding Letter of Intent. Legend shareholders will receive three Altus Ordinary shares for each Legend share held.
As well, shares of Capstone Mining Corp. (TSX:CS) slipped 8% to $1.36 as the base metals miner said its third-quarter production totaled 22,000 tonnes of copper, impacted by lower-than-expected output from its Pinto Valley and Minto operations.
Pretium Resources Inc. (TSX:PVG), meanwhile, reported that it produced 82,203 ounces of gold during the third quarter of 2017 at its Brucejack Mine in British Columbia. Pretium Resources stock popped 24% to $15.05 following the announcement.
As well, shares of Rye Patch Gold Corp. (TSXV:RPM) gained 17% to $0.245 as the junior gold miner said third-quarter gold production at its flagship Florida Canyon mine in Nevada increased 13% to 7,982 ounces.
Finally, Kesselrun Resources Ltd. (TSXV:KES) shares climbed 19% to $0.125 after the gold explorer announced that a grab sample assayed 15.7 g/t gold from its 100% owned Huronian Gold Project in northern Ontario.
Disclosure: Neither the author nor any of the principals at SmallCapPower, or their family members, own shares in any of the companies mentioned above.
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.
Legend Gold Corp. (TSXV:LGN) shares jumped 72% to $0.31 on Wednesday after the gold junior announced that it has agreed to be acquired by Altus Strategies Plc, a UK-based prospect generator listed on AIM, in an all-stock transaction following the signing of a non-binding Letter of Intent. Legend shareholders will receive three Altus Ordinary shares for each Legend share held.
