Arcus Development Group Inc. (CVE:ADG), a resource junior, climbed after announcing an agreement to acquire ATAC’s 50% interest in the Dawson Gold Joint Venture
Sean Mason | August 2, 2016 | SmallCapPower
A Yukon gold deal boosted a resource junior Tuesday, while failed talks hammered a potash play. Here’s some small stocks making big moves on Tuesday, August 2, 2016 (as of 4 pm EST):
Arcus Development Group Inc. (CVE:ADG) shares surged 131% to $0.15 Tuesday after the resource junior announced that it has reached an agreement with ATAC Resources Ltd. to acquire ATAC’s 50% interest in the Dawson Gold Joint Venture.
As well, shares of Karnalyte Resources Inc. (TSE:KRN) plunged 56% to $0.99 as the potash project developer said that negotiations have ceased with Gujarat State Fertilizers and Chemicals Limited in respect to the proposed US$700 million financing for Phase I of Karnalyte’s potash mine at Wynyard, Saskatchewan, as both parties have been unable to reach an agreement on certain fundamental terms of the transaction.
Golden Tag Resources Ltd. (CVE:GOG), meanwhile, reported that it has signed an agreement to purchase the remaining 50% interest in the San Diego silver project in Mexico. Golden Tag stock popped 36% to $0.15 following the announcement.
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.