Samaranta Mining Corp. (TSX: V.SAX, Stock Forum) jumped 75% on Tuesday to $0.035 prior to a trading halt after Samarium Group Holding Ltd. said it will commence a tender offer to purchase at least 51% of the issued and outstanding shares of Samaranta. Singapore-based Samarium said it will pay 12 cents a share plus one full warrant at 16 cents, plus another full two-year warrant at 50 cents. Samarium said it will also grant Samaranta a loan of $5.6 million to help fund exploration at the company’s flagship Guadulupe project in Colombia.
Precipitate Gold Corp. (TSX: V.PRG, Stock Forum) also rose 12% to 28 cents. The company said it has reached an agreement with Gunpoint Exploration Ltd., allowing Precipitate to acquire a 100% interest n the Cecilia gold-silver project in northeast Sonora State, Mexico. The Cecilia project is a low sulphidation epithermal gold-silver target, hosting a large number of historic workings, centred on gold-silver bearing quartz veins and breccias.
Sterling Resources Ltd. (TSX: V.SLG, Stock Forum) eased 9.6% to 75 cents after the company announced a $55 million bought deal offering and continuation of a strategic review process. The offering is comprised of 73.3 million Sterling common shares to an underwriting syndicate priced at 75 cents a share. Under the offering, 20 million common shares will be offered by way of a short form prospectus on a private placement basis across Canada and the United States. The balance will be distributed on a private placement basis via applicable exemptions from prospectus requirements.
International Enexco Ltd. (TSX: V.IEC, Stock Forum) fell 6.8% to 55 cents, on news that its partner Cameco Corp. (TSX: T.CCO, Stock Forum) and (NYSE: CCJ, Stock Forum) has added a third drill rig on the Mann Lake Uranium Project in the Athabaska region of Saskatchewan. The budget for the 2013 program is $6 million. Enexco’s contribution is $1.8 million. The aim is to test for priority targets and expand mineralization discovered in 2006 to 2007.
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3,150.00% |
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825.00% |
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220.00% |
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175.00% |
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87.50% |
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| War Eagle Mining Company Inc. (V.WAR, Stock Forum) |
-34.62% |