Gold Junior Shines on Merger Announcement

Share on Linkedin

Luna Gold Corp. (TSX: LGC), a gold junior, climbed after announcing a merger with JDL Gold

Sean Mason | February 2, 2017 | SmallCapPower

Shares of a gold junior ‘trekked’ higher on merger news Thursday. Here’s some small stocks making big moves on Thursday, February 2, 2017 (as of 4 pm EST):

Luna Gold Corp. (TSX: LGC) shares surged 12% to $1.90 on Thursday after the gold junior announced that it intends to merge with JDL Gold Corp. and change its name to Trek Mining Inc. The newly-formed company will have C$66 million in cash and be in a “strong position” to advance the Aurizona gold project to production, according to the Company.

Win Big With Our Small Cap Picks

 

As well, shares of Western Potash Corp. (TSX: WPX) slid 13% to $0.27 as the company said it is planning a corporate restructuring in which Western Resources Corp. will acquire all of the issued and outstanding common shares of Western Potash on the basis of 0.2 of a Western Resources common share for each Western Potash common share held.

BonTerra Resources Inc. (TSXV: BTR), meanwhile, reported drilling results from the “Rivage Gap Western Extension” of the Gladiator Deposit in Quebec, which included 3.8 metres grading 16.8 g/t gold. BonTerra Resources stock moved up 16% to $0.325 following the announcement.

In addition, shares of Belo Sun Mining Corp. (TSX: BSX) powered 16% higher to $1.03 as the gold project developer said it has received the construction licence for its Volta Grande Gold Project in Brazil, which is the final governmental approval authorizing the Company to proceed with the Project’s construction and development.

Finally, Blackbird Energy Inc. (TSXV: BBI) shares rose 9% to $0.63 after the energy junior announced that it has acquired 8 gross sections of Montney rights (2.8 net) from Paramount Resources in consideration for five million Blackbird common shares. Blackbird added that it has achieved initial Montney production at Elmworth/Pipestone.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

Hi, did you know SmallCapPower accepts blog submissions? You can contact me here

DISCLAIMER

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.