Goldcorp Inc. (TSE:G) is set to acquire Kaminak Gold Corporation (CVE:KAM) in an all-stock transaction
Sean Mason | May 12, 2016 | SmallCapPower
Goldcorp had its sights on a popular junior gold play Thursday, while drill results caught the attention of a few speculators. Here’s some small stocks making big moves on Thursday, May 12, 2016 (as of 4 pm EST):
Kaminak Gold Corporation (CVE:KAM) shares surged 26% to $2.50 on Thursday after the gold project developer announced that it has agreed to be acquired by Goldcorp Inc. in an all-stock transaction valued at approximately C$520 million. The shareholders of this gold penny stock will receive 0.10896 common shares of Goldcorp for each Kaminak share held.
As well, shares of RMP Energy Inc. (TSE:RMP) slid 22% to $1.20 as the oil and gas junior said its first-quarter production level was lower than the same period last year due to pared-back drilling activity over the last six months and natural field declines.
Mood Media Corporation (TSE:MM), meanwhile, reported that it generated positive free cash flow of $5.7 million in Q1, compared with $1.1 million in the first quarter of last year. Mood Media stock moved up 63% to $0.13 following the announcement.
Finally, Oban Mining Corporation (TSE:OBM) shares rose 12% to $1.78 after the mineral exploration company announced new results from the ongoing drill program at its 100% owned Windfall Lake gold project located in Québec, which included 17.22 g/t gold over 3.9 metres.
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.
