Lake Shore Gold Breaks Out on Acquisition Rumors

Yesterday we shared a chart of Lake Shore Gold (LSG.TO) on StockTwits/Twitter highlighting the fact that LSG was testing the same area of resistance for the 4th time in the last 2 years. Today there is a rumor that LSG is in late stage talks to be acquired by Tahoe Resources (THO.TO) and LSG is breaking out to 4-year highs on enormous volume:

 

LSG.TO (Daily)

LSG.TO_Daily_2.5.2016

Technically speaking this breakout targets C$2.00+ so it will be interesting to see where this deal gets done if in fact it gets done.

 

Click over to IKN for the whole scoop: Tahoe Resources in late stage talks to buy Lake Shore Gold