Lexam VG Gold Inc. (TSX: LEX), a gold junior, shot up after agreeing to be acquired by McEwen Mining
Sean Mason | February 13, 2017 | SmallCapPower
Another promising gold junior was taken off the market Monday. Here’s some small stocks making big moves on Monday, February 13, 2017 (as of 4 pm EST):
Lexam VG Gold Inc. (TSX: LEX) shares powered 20% higher to $0.30 on Monday after the gold junior announced that it has a agreed to a friendly acquisition by McEwen Mining Inc., in which Lexam shareholders will receive 0.056 of a McEwen Mining share for each Lexam common share held.
As well, shares of RDM Corporation (TSX: RC) jumped 13% to $5.43 as the provider of specialized software and hardware products for electronic payment processing said it has agreed to be acquired by a subsidiary of Deluxe Corporation for $5.45 per share in cash.
RNC Minerals (TSX: RNX), meanwhile, reported that it has reached a toll processing and purchase option agreement with Westgold Resources Limited at Westgold’s South Kalgoorlie Operations in Western Australia, which would provide RNC with a lower cost toll milling alternative and the option to significantly expand its Kalgoorlie footprint through a potential acquisition of the SKO mining assets and milling infrastructure located approximately 30 km from RNC’s Beta Hunt Mine. RNC Minerals stock moved up 10% to $0.39 following the announcement.
Finally, Northern Superior Resources Inc. (TSXV: SUP) shares rose 56% to $0.07 after the resource junior announced that 2176423 Ontario Limited, a company controlled by Eric Sprott, has agreed to make a $2 million investment in Northern Superior.
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