Canadian junior gold miner Alamos Gold to buy Aurizon Mines for $792.96 mn

Canadian junior gold miner Alamos Gold Inc today agreed to buy Aurizon Mines Ltd for about C$780 million ($792.96 million) in cash and stock.

Aurizon Mines is a gold producer developing its existing projects in the Abitibi region of north-western Quebec, Canada. It has 8 properties in Quebec, which include Casa Berardi, an operating gold mine and the advanced stage gold development property of the Heva and Hosco West Extension areas.

Alamos has offered to pay C$4.65 per share, a premium of 36 per cent to Aurizon's Friday closing price of C$3.41 on the Toronto Stock Exchange.

Alamos owns and operates the Mulatos Mine located in the Sierra Madre Occidental mountain range in the east-central portion of the State of Sonora, Mexico.  The mine is approximately 220kms by air east of the City of Hermosillo, and 300kms south of the border between the US and Mexico.

The Toronto, Ontario-based company also owns the Agi Dagi and Kirazli gold development projects located in Çanakkale Province on the Biga Peninsula of northwestern Turkey.