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