Gold Explorer Surges on Takeover Deal

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Battle Mountain Gold Inc. (CVE:BMG), a gold explorer, shot higher after agreeing to be acquired by Gold Standard Ventures Corp. (CVE:GSV)

Sean Mason | April 12, 2017 | SmallCapPower

More than a few speculators took a shine to a Nevada acquisition Wednesday, sending shares of a gold explorer sharply higher. Here’s some small stocks making big moves on Wednesday, April 12, 2017 (as of 4 pm EST):

Battle Mountain Gold Inc. (TSXV: BMG) shares jumped 37% to $0.57 on Wednesday after the gold explorer announced that it has agreed to be acquired by Gold Standard Ventures Corp. (TSXV: GSV) in a stock-and-cash transaction. Battle Mountain Gold shareholders will receive 0.1891 of a common share of Gold Standard Ventures plus $0.08 in cash for each Battle Mountain common share held.

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As well, shares of Belo Sun Mining Corp. (TSX: BSX) slipped 11% to $0.74 following a report that the Brazilian Federal court has suspended its state mining license for gold exploration in the Belo Monte hydroelectric region, in response to allegations that the Company did not present valid studies of the impact of the project on the indigenous peoples of the region.

Northern Dynasty Minerals Ltd. (TSX: NDM), meanwhile, reported that its 100%-owned U.S. subsidiary Pebble Limited Partnership has received notice of approval of a Miscellaneous Land Use Permit from the Alaska Department of Natural Resources for its ongoing activities at the Pebble Project in Alaska. Northern Dynasty Minerals stock popped 32% to $2.42.

Finally, West Mountain Environmental Corp. (TSXV: WMT) shares gained 150% to $0.05 after the environmental solutions company announced that it has signed a non-binding Letter of Intent, in which the Walker McNeil Group of Companies will invest up to C$14 million in the Company with C$7.0 million to be invested within the next 90 days.

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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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