4:05pm: Taseko Mines, Brixton Metals shares add to gains late afternoon
Taseko Mines closed up 22% at $2.09, while Arena Minerals surged 17% to $0.61, Bird Construction (TSX:BDT) finished 8% higher to $7.90, and Brixton Metals ended up 19% at $0.28.
12:10pm: Taseko Mines, Arena Minerals shares advance sharply
Taseko Mines Ltd (TSX:TKO) shares jumped 15% to $1.95 on Tuesday after the copper projects developer announced that it has signed agreements with Mitsui & Co (U.S.A.) Inc to form a strategic partnership to develop Taseko’s Florence Copper project in Arizona.
The company noted that Mitsui has committed to an initial investment of US$50 million, in the form of a copper stream agreement on 2.67% of the copper produced at Florence, with proceeds to be used for construction of the commercial production facility.
As well, shares of Arena Minerals Inc (TSXV:AN) shot up 15% to $0.60 as the junior explorer said it has agreed to be acquired by Lithium Americas Corp (TSX:LAC, NYSE:LAC) in an all-stock transaction valued at C$311 million. Arena Minerals shareholders will receive 0.0226 of a Lithium Americas common share for each Arena share held.
READ: Lithium Americas to acquire Arena Minerals in C$311M all-stock deal
Bird Construction (TSX:BDT) Inc, meanwhile, reported that its board of directors approved a 10% increase in its dividend, effective with the March monthly dividend payable on April 20, 2023. Bird Construction (TSX:BDT) stock moved up 9% to $7.98 following the announcement.
And, Brixton Metals Corporation (TSX-V:BBB, OTCQB:BBBXF) shares gained 17% to $0.275 on Tuesday after the Canadian exploration and development company announced additional drill results from the Trapper Gold Target at its wholly-owned Thorn project in British Columbia, which included 75.5 metres of 2.4 grams per tonne gold.
Contact Sean at sean@proactiveinvestors.com