Metallica Resources higher on merger news
Shares of mineral exploration company Metallica Resources Inc. (AMEX:MRB) are rising on news that it will merge with gold producer Peak Gold Ltd. The combined company will be called New Gold Inc. and will have three operational gold mines and enough money to fund new projects, Metallica Resources reported before the opening. The merger is expected to close in July 2008.
At 12:22 p.m. ET, the stock had added $0.48, or 9%, to $5.96. For detailed price information and recent news stories about Metallica Resources, click MRB.
