Buchans Minerals Gains 28% Following Base-Metal Combo Deal with SG Spirit Gold

Buchans Minerals Corp (BMC.V) is getting a big boost today, with shares rising 2 cents to 9 cents a share, after selling stakes in three properties near Buchans, N.B., to SG Spirit Gold Inc. (SG.V) as part of efforts to create a new company concentrating on better developing base-metal mining opportunities in New Brunswick.

SG Spirit Gold will issue $2 million of its stock to Buchans in exchange for Buchans' namesake property as well as the Tulks North property and a 49% interest in the Tulks Hill joint venture.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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