More insider buying recently.
4/28/2017 Richard Mark Colterjohn Director Buy 100,000 C$1.08 C$108,000.00
4/26/2017 Richard Mark Colterjohn Director Buy 25,000 C$1.06 C$26,500.00
Something else I found in their last press release updating royalties that sort of confirms my feeling that they don't want to be a miner.
On March 17, AuRico entered into a binding Letter Agreement with First Quantum for one of these properties, Kliyul, located in British Columbia, approximately 50 km south of AuRico's Kemess property.
Under the terms of the agreement, First Quantum has 12 months to evaluate the Kliyul project. It can then choose to enter into an Option to earn a 51% interest by incurring a minimum of C$5 million of expenditures on the project prior to December 31, 2021. First Quantum's interest will increase by a further 29% (80% total) when a decision to mine is made. Upon a decision to mine, AuRico will be entitled to receive advance royalty payments of C$2 million per year until the commencement of commercial production, and will retain a 0.5% NSR royalty once production commences.
Kliyul was Kiska's main advanced project. AuRico is willing to give up 80% of the mine for cash, royalty and a 20% stake. Makes me think that this will happen with Kemess mines too.
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