Ontario-focused Dryden Gold received a boost on Tuesday after it announced that Centerra Gold will be taking up a 9.9% equity interest in the company.
Dryden Gold’s shares traded at C$0.15 apiece at press time, for a 15.4% intraday gain and a C$20.2 million market capitalization. Since the stock began listing earlier this year, it has traded at a peak of C$0.40 and a low of C$0.095. “Centerra is using its strong balance sheet to focus on organic growth through strategic investments and is providing valuable capital to select junior mining companies. We look at this investment as a strong validation of our property, our team and the science behind our exploration program,” stated Dryden’s CEO Trey Wasser.
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