Centerra buying AuRico...
I bought AuRico in December 2015, but I sold it for 50%+ gain about 6 months later...I should have held onto it!
Centerra Gold to buy AuRico Metals in C$310 million deal
Reuters Staff
2 MIN READ
(Reuters) - Canadian miner Centerra Gold Inc (CG.TO) said on Tuesday it would buy smaller rival AuRico Metals Inc (AMI.TO) in a deal valued at C$310 million ($243 million).
Centerra offered C$1.80 per share in cash, a 38.5 percent premium to AuRico last close on Monday.
Canadian miners have been boosting acquisitions at home as they come under pressure from foreign governments over profit-sharing at crucial mines.
Toronto-based Centerra reached an agreement with Kyrgyzstan in September to settle all outstanding disputes over the Kumtor gold mine, the company’s biggest.
Earlier this year, miner Alamos Gold Inc (AGI.TO) (AGI.N), agreed to buy Richmont Mines Inc (RIC.TO) (RIC.N) in a deal valued at about C$905 million, creating a top-10 gold producer in North America.
Centerra’s deal will be funded through cash in hand and debt and is expected to close in January 2018, the companies said in a joint statement.
Just trying to make a few bucks.
