The Treaty Creek project in British Columbia’s Golden Triangle. Credit: Tudor Gold
Shares in American Creek Resources (TSXV: AMK) shot up Friday on the news it entered into a non-binding letter of intent with private company Cunningham Mining to acquire all of its shares and its 20% stake in the Treaty Creek project for C$209.5 million.
American Creek shares hit C$0.085 apiece — a new 52-week high — on Friday morning, valuing the company at C$87.4 million.
Treaty Creek, a gold-copper-silver project in the Golden Triangle region of northwest British Columbia, is a joint venture project in which Tudor Gold (TSXV: TUD) holds a 60% interest, with each of American Creek and Teuton Resources (TSXV: TUO) holding 20%.
“We are excited that Cunningham has recognized the value and the potential of the Treaty Creek property despite the tough junior market conditions we are currently experiencing,” American Creek CEO…
