Junior miner surges on gold resource increase
Coral Gold Resources (TSX: V.CLH) shares climbed as much as 22% to $1 on Friday after the micro cap miner reported that it has received a revised resource estimate for the Robertson Property in Nevada, which shows a 47% increase in the inferred gold resource to 3.4 million ounces. The estimate utilizes lower cut-off grades to reflect positive movement in the price of gold over the last three years.
Takeover offer spurs junior mineral exploration company
Freewest Resources (TSX: T.FRW), a mineral exploration company with chromite, gold and base-metal properties in Eastern Canada, said on Monday that it had received an unsolicited share-only takeover offer from Noront Resources (TSX: V.NOT). The thread was solidly against the offer, and in line with Freewest management, which said that the bid was “highly opportunistic” that it “significantly undervalues” the company’s assets.
