Sign up Australia
Proactive Investors - Run By Investors For Investors

Cove Resources rides high on acquisition expectation

Cove Resources rides high on acquisition expectation

Shares in Cove Resources (ASX:CVE) were trading 33.3% higher than their opening price today as the company requested a trading halt regarding an acquisition.

Cove stock was last trading at A$0.012, which represents a level 300% higher than at the beginning of September.

The request today to suspend trading was announced pending details expected by Wednesday on an acquisition.

The company confirmed in late October that it had begun a program to seek new complementary projects or other value-accretive assets.

The strategy has been touted as a means of meaningfully building value as exploration programs continue on existing resource projects.

Cove’s Goongarrie project 90 kilometres north of Kalgoorlie in Western Australia is considered prospective for gold, while the Quartz Circle project in WA’ Pilbara region is targeting economic concentrations of VMS mineralisation.

The company held cash at the end of the September quarter totalling A$1.1 million.  


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

View full BID profile View Profile

BidEnergy Ltd Timeline

Newswire
November 17 2017
Newswire
June 28 2017

Related Articles

Montepuez Ruby Project Processing Plant
April 03 2018
The Caula Graphite Vanadium Project could achieve first production by mid-2019.
An aircore drill rig at the GT6 prospect of the Pinnacles Gold Project
April 19 2018
Nexus has only scratched the surface in seeking out a Karari-style deep plunging ore body.
1510744989_Tin-ingots.jpg
November 15 2017
AfriTin has listed on the AIM market with plans to position itself as the African tin champion

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use