Sean Mason | November 17, 2015 |
SmallCapPower
Acquisition
news lifted shares of a small gold miner Tuesday, while a royalty stock surged
on a dividend hike. Here’s some small stocks making big moves on Tuesday, November
17, 2015 (as of 4 pm EST):
St Andrew Goldfields Ltd. (TSX:
SAS) shares climbed as much as 16% before ending 4% higher at $0.395 on Tuesday after the gold junior announced
that it has agreed to be acquired by Kirkland
Lake Gold Inc. (TSX:
KGI) in an all-stock transaction valued at approximately C$178 million. St
Andrew shareholders will receive 0.0906 of one common share of Kirkland Lake for
each St Andrew common share held. The combined entity is expected to
produce 260,000 to 310,000 ounces of gold in 2016 with cash costs of between US$600-690/ounce.
Did Eric Sprott hint of this acquisition in a recent
SmallCapPower interview? Find out here >>
As well,
shares of Trevali Mining Corporation
(TSX:
TV) slipped 12% to $0.375 as the zinc-focused, base metals mining company
said it recorded a third-quarter net loss of $3.4 million, or a penny a share.
Grenville Strategic Royalty Corp. (TSXV:
GRC), meanwhile, reported that its Q3 revenue soared 401% to
$4,537,725, while income after
taxes for the period increased 638% to $3,899,245. The Company added that it
plans to increase its dividend by 40% to $0.07
on an annualized basis. Grenville stock moved up 18% to $0.71 following the announcement.
Finally, Iberian Minerals Ltd. (TSXV:
IML) shares gained 42% to $0.085 after the Canadian junior mining company
focused in Spain said it would acquire Mineworx Technologies Inc., a private
arms’ length mining and technology company.
Hi, did you know SmallCapPower accepts
blog submissions? You can contact me at sean@smallcappower.com.
