The current plus 17 % is a sign of life. ..... The very first step is to get the share price above $0.15 so that the insiders and the former EU Gold management can enter the profit zone. After that, perhaps further into the twenties. Starcore issued 7,883,333 common shares to the shareholders of EU Gold in exchange for the EU Gold shares. This represents approximately 10.9 per cent of the postacquisition issued and outstanding shares of Starcore after giving effect to the share exchange and the issuance of Starcore shares to K Mining as part of the consideration for the option agreement covering the mineral property interests in Ivory Coast. Included in the Starcore shares issued to EU Gold shareholders were three million shares of Starcore issued to current and former management and directors of Starcore who held an interest in EU Gold.
The calculation of shares issued to the EU Gold shareholders was based on two-thirds of one Starcore share for each one EU Gold share, with a VWAP (volume-weighted average price) for Starcore at 15 cents applied to EU Gold shares.
https://www.stockwatch.com/News/Item/Z-C!SAM-3504349/C/SAM