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NTM Gold (ASX:NTM) share price rockets 44% higher on Dacian (ASX:DCN) merger plan // Motley Fool Australia
The NTM Gold Ltd (ASX: NTM) share price was rocketing higher this morning before the Australian stock exchange paused trading.
The Western Australia-based gold-focused mineral exploration company’s shares were up a massive 44% to 12.5 cents before the pause.
Why was the NTM Gold share price rocketing higher?
Investors were buying the company’s shares this morning after it announced a merger with fellow Western Australia-based gold miner Dacian Gold Ltd (ASX: DCN).
According to the release, the two parties have entered into a binding scheme implementation deed, under which the two companies will merge by way of a scheme of arrangement.
Management believes the merger will combine two complementary West Australian gold companies,…
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