Gold Junior Climbs on Mines Acquisition

Resource Capital Gold Corp. (CVE:RCG), a gold junior, jumped after announcing that it has acquired three mines in Nova Scotia

Sean Mason | September 12, 2016 | SmallCapPower

A deal to acquire a previously-producing mine garnered gains for a gold junior Monday. Here’s some small stocks making big moves on Monday, September 12, 2016 (as of 4 pm EST):

Resource Capital Gold Corp. (CVE:RCG) shares move up as much as 14% before ending down 9% to $0.20. On Friday, RCG shares jumped 10% after the gold junior announced that it will acquire a 90% ownership interest in the Dufferin Gold Mine, as well as the Tangier and Forest Hill mines, which are located in Nova Scotia for a total consideration of US$9.5 million plus a net smelter royalty of 1.0%.

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As well, shares of Sandvine (TSE:SVC) slid 15% to $2.95 as the provider of intelligent network policy control solutions for fixed and mobile operators said it expects revenue for its third quarter to be approximately US$26 million, the third year in a row where Q3 revenue has declined from Q2, which would result in year-to-date revenue growth of 6%.

Tango Mining Limited (CVE:TGV), meanwhile, reported that it has failed to close its previously-announced acquisition of the BK11 Diamond Mine in Botswana. Tango Mining stock dropped 50% to $0.03 following the announcement.

Finally, Ivanhoe Mines (TSE:IVN) shares rose 14% to $2.17 after the resource projects developer announced that Standard and Poor’s has added Ivanhoe Mines to the S&P/TSX Composite Index, effective after the close of trading on September 16, 2016.

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