Independence Gold stock spikes 35% as Goldcorp takes 19.9% stake

Canadian gold major Goldcorp on Monday caused the TSX-V-listed stock of junior Independence Gold soar 35% after it announced that it would take a 19.9% stake in the company giving Goldcorp access to a project portfolio that ranges from early-stage grassroots exploration to advanced-stage resource expansion. Under terms of an agreement, Goldcorp would acquire 10.88-million shares of Independence at a price of C$0.13 each, for a total purchase price of C$1.45-million.