Gammon Gold (GAM.TO) is poised to win a drawn-out battle for New York-based Capital Gold (CGC.A), even though some of its largest stakeholders prefer a rival bid. The two companies are after Capital Gold's El Chanate mine in northern Mexico, a region where both Gammon and competitor Timmins Gold (TMM.V) own operating gold mines. Gammon is offering $1.09 plus 0.5209 of a Gammon share for each Capital share, valuing the U.S. company at some $355 million at Tuesday's prices.
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