Gold Junior Soars on Acquisition Agreement

Dalradian Resources Inc. (TSX:DNA), a gold junior, climbed after agreeing to be acquired by Orion Mine Finance

Sean Mason | June 21, 2018 | SmallCapPower

A takeover bid must have been a blessing in disguise for a few investors in a gold junior Thursday. Here’s some small stocks making big moves on Thursday, June 21, 2018 (as of 11:30 am EST):

Dalradian Resources Inc. (TSX:DNA) shares surged 59% to $1.45 on Thursday after the gold junior announced that it has agreed to be acquired by Orion Mine Finance for C$1.47 per share in cash, or a total consideration of approximately C$537 million.

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As well, shares of Contact Gold Corp. (TSXV:C) jumped 46% to $0.40 as the gold explorer revealed drill results from the first five holes of its 2018 drill program at the Pony Creek gold property in Nevada, which included 2.51 g/t gold over 47.24 metres.

Aurion Resources Ltd. (TSXV:AU), meanwhile, reported that field exploration programs are underway on its project areas in the Central Lapland Greenstone Belt of northern Finland, adding that two “significant new high-grade gold prospects” located north and northwest of the Aamurusko boulder fields have recently been discovered. Aurion Resources stock moved up 18% to $0.87 following the announcement.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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