TORONTO (SHfn) -- Gold assays generated plenty of speculation Tuesday, while a merger boosted a small explorer.
Evolving Gold (TSX: V.EVG, Stock Forum) shares powered 87% higher to 84 cents on Tuesday after the micro cap explorer reported assays from its Rattlesnake Hills bulk tonnage gold deposit in Wyoming, which included 67.1 metres at 10.8 grams per tonne (g/t) gold.
As well, shares of Kinbauri Gold (TSX: V.KNB, Stock Forum) shot up 20% to 66 cents as the junior explorer said it has entered into a binding letter agreement with ATW Gold (TSX: V.ATW, Stock Forum) to combine the two companies under a plan of arrangement. Pursuant to the agreement, Kinbauri shares will be exchanged at the agreed ratio of 1.35 ATW shares for each Kinbauri share, implying a purchase price of 85 cents per Kinbauri share using closing share prices on July 10, 2009.
