The TSX-V-listed stock of Canadian project developer True Gold on Friday spiked 30% to new one-year highs after fellow Canadian miner Endeavour Mining moved to acquire the company for its 90% interest in the Karma project, in Burkina Faso, in an all-scrip deal valued at about C$191-million.
The deal would create a new West Africa-focused intermediate gold producer, with a portfolio of low-cost producing assets spread across Côte d’Ivoire, Mali, Burkina Faso and Ghana.
