Home From Cancun, Mexcio to Nice Upside Surprise - Western Silver (WTZ) and Glamis Gold Ltd. (GLG)
I returned home from a much-needed vacation to Cancun, Mexico late last night and to my joy found my portfolio up very handsomely. The big winner was Western Silver Corp (WTZ), a mining company that I recommended but 3-days before the big news. Western Silver Corp. shares skyrocketed 27.21% that day to finish at $21.60 per share, with above average volume trading.
On Friday, Western Silver and Glamis Gold Ltd. (GLG) announced an agreement whereby Glamis will acquire, through an agreed plan of arrangement, all outstanding shares of Western Silver for a total consideration of approximately $1.0 billion (USD). Under the plan of arrangement, each Western Silver shareholder will receive 0.688 of a Glamis common share and one share in a new exploration and development company ("ExploreCo") for each issued Western Silver share.
Congratulations to all my readers who cashed in on these huge gains.