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Big news out of Captial gold Corp (CGC)

|Includes: Capital Gold Corporation (CGCO-OLD)

Capital gold was one of the first stocks I have recommended on here when it was around $3.60 a share. I continued to recommend it after it fell to $3.30 a share, calling it a buying opportunity. Capital Gold has pushed over $4.30 a share today on buyout news, though CGC has been rejective towards the $4.50 offer!

Timmins Gold Corp. (TMM.V) has made a proposal to buy Capital Gold (C$4.34, C$0.45, 12%) in a deal it values at C$4.50 a Capital Gold share. It’s offering 2.27 Timmins shares for every 1 Capital Gold share. It said that, despite repeated requests, Capital Gold’s board hasn’t been receptive to its proposal.

Disclosure: long cgc