NV Gold Corporation (CVE:NVX), a gold junior, jumped after announcing a Letter of Intent to acquire 100% of Redstar Gold Corp.’s exploration assets in Nevada
Sean Mason | August 3, 2016 | SmallCapPower
A potential Nevada projects acquisition sparked much speculation in a gold junior Wednesday. Here’s some small stocks making big moves on Wednesday, August 3, 2016 (as of 4 pm EST):
NV Gold Corporation (CVE:NVX) shares surged 258% to $0.34 on Wednesday after the gold junior announced that it has entered into a Letter of Intent to acquire 100% of Redstar Gold Corp.’s exploration assets in Nevada, which consists of a 100% interest in 11 exploration projects in Nevada, as well as the AngloGold-Ashanti database purchased by Redstar in 2008, in consideration for 6 million common shares of NV Gold.
As well, shares of Vista Gold Corp. (TSE:VGZ) slid 19% to $1.66 as the gold project developer said it has entered into an underwriting agreement to raise gross proceeds of US$15.05 million at a price of US$1.40 per unit.
Galway Metals Inc. (CVE:GWM), meanwhile, reported that it has entered into an Option Agreement to acquire a 100% undivided interest in Wolfden Resources Corporation’s Clarence Stream gold property in New Brunswick, as well as Jubilee Gold Exploration Ltd.’s adjacent Birneys Lake property. Clarence Stream hosts an Indicated Resource of 182,000 ounces of gold at 6.9 g/t, plus an Inferred Resource of 250,000 ounces at 6.3 g/t. Galway Metals stock moved up 111% to $0.40 following the announcement.
Finally, Covalon Technologies Ltd. (CVE:COV) shares jumped 38% to $2.00 after the medical technologies company announced that it has won a contract to supply its ColActive Plus and ColActive Plus Ag wound care dressings to Ministry of Health facilities in Saudi Arabia at a minimum guaranteed value of $7.6 million over 12 months.
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.
