2023-08-11 15:02:35 ET
Artemis Gold ( OTCPK:ARGTF ) rose 3.1% , advancing for the second day in a row, amid speculation that the company could be a prime target for large miners.
The company is nearing completion of its Blackwater mine in British Columbia, and the first pour of gold and silver is expected in the second half of next year. Progress on the mine should make the company a good candidate for an acquisition, according to a CTFN report on Thursday, which cited an industry source.
The same logic was behind B2Gold's ( BTG ) recent purchase of Sabina Gold & Silver as well as Newmont's ( NEM ) acquisition of Newcrest ( OTCPK:NCMGF ), the source told CTFN.
Kinross Gold ( KGC ) and Agnico Eagle ( AEM ) could be possible suitors for Artemis Gold ( OTCPK:ARGTF ).
Artemis Gold ( OTCPK:ARGTF ) has a market cap of around $800 million.
Artemis ( OTCPK:ARGTF ) did not respond to a request for comment from CTFN.
More on Artemis Gold
- Artemis Gold Returns to Full Construction at Blackwater
- Artemis Gold announces senior management changes
For further details see:
Artemis Gold gains amid potential takeover speculation