Shares in Dacian Gold (ASX:DCN) rocketed 96% to A$0.245, marking the largest intraday percentage gain in the company’s history.

The gold producer announced that Genesis Minerals is planning to purchase the remaining 20% stake in Dacian Gold they do not currently own.

The company stated that the offer represents a proposed value of A$0.235 per share, resulting in a total equity valuation of A$286 million ($180.35 million).

This offer per share indicates an 88% premium on Dacian Gold’s closing price on October 13.

Stock trading was heavily congested, with approximately 1.9 million shares exchanging hands, vastly exceeding the 30-day average volume of 86,327.

The value of Dacian Gold’s stock reached its highest level since April 2022, and as of the last close, the stock is up by 25% year-to-date.

Dacian Gold is a gold production company.