Speculators took a shine to a resource junior Tuesday after Goldcorp came calling. Here’s some small stocks making big moves on Tuesday, March 28, 2017 (as of 4 pm EST):
Exeter Resource Corporation (TSX: XRC) shares powered 57% higher to $2.41 on Tuesday after the resource junior announced that it has agreed to be acquired by Goldcorp Inc. (NYSE:GG) (TSE:G) in an all-stock transaction valued at approximately C$247 million. Exeter Resource shareholders will receive 0.12 of a Goldcorp share for each Exeter share held.
As well, shares of Home Capital Group Inc. (TSX: HCG) slipped 10% to $25.06 as the provider of residential and non-residential mortgage lending said it has parted ways with President and CEO Martin Reid, replacing him on an interim basis with director Bonita Then.
Arena Minerals Inc. (TSXV: AN) stock, meanwhile, continued to move higher, up 9% to $0.18 after the Company reported that Japan Oil Gas and Metals National Corporation has added a second drill rig to the Pampa Union drill program in Chile, which forms part of its US$17.5 million joint venture. The additional drill will focus on following up on the discovered porphyry system in Drill Hole PU-RC-39, while the first drill shall continue completing a 1.5 kilometre grid over the Pampa Union project.
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Exeter Resource Corporation (TSX: XRC) shares powered 57% higher to $2.41 on Tuesday after the resource junior announced that it has agreed to be acquired by Goldcorp Inc. (NYSE:GG) (TSE:G) in an all-stock transaction valued at approximately C$247 million. Exeter Resource shareholders will receive 0.12 of a Goldcorp share for each Exeter share held.
