Inventus Mining up 15% at 7-Month High, Says Acquiring Past Producing Golden Rose Mine From Conquest Resources
Inventus Mining (IVS.V), up 15% at the highest in seven months, is acquiring the Belfast-Teck Mag property package that includes the Golden Rose mine from Conquest Resources (CQR.V) in an all-shares transaction.The transaction, announced Friday, expands Inventus' land position in Sudbury, Ontario, to 681 square kilometers and also adds a high-grade gold growth asset near its Pardo project. The past-producing Golden Rose project had 52,000 ounces of documented historical gold production, a statement said.Inventus will issue eight million shares at C$0.295 to Conquest, who will retain a 2% net smelter returns royalty on the asset. Inventus may buy back 0.5% of the royalty for C$1 million.Inventus shares were last seen up C$0.05 at C$0.34 on the TSX Venture Exchange.Price: $0.34, Change: $+0.05, Percent Change: +15.25%
