These two companies have plenty of directors in common and the smaller one (CUT.v) is out of cash, so we are presented with another consolidation move this morning:
VANCOUVER, BRITISH COLUMBIA–-(Marketwired – April 28, 2015) – Starcore International Mines Ltd. (“Starcore” or the “Company”) (SAM.TO) is pleased to announce the signing of a letter of intent with Cortez Gold Corp. (“Cortez”) (TSX VENTURE:CUT) (the “LOI”) that would see Starcore acquire all of the outstanding securities of CUT in an all-share transaction (the “Transaction”) to be completed pursuant to a court approved Plan of Arrangement under the Business Corporations Act (British Columbia). Under the terms of the planned acquisition, each CUT shareholder would receive three Starcore common shares for every one CUT common share held.
Cortez owns the Altiplano gold and silver processing plant in Matehuala, Mexico.
Whole thing here. This is the third (count ’em up) M&A move made by SAM.to recently. Beginning to see any trends appear, kind reader?