U.S. silver miner Hecla Mining Co will purchase Aurizon Mines Ltd for about C$796 million ($774 million) to gain control of a gold mine in Quebec, nearly a month after the Canadian company rejected an unsolicited offer from Alamos Gold Inc.The offer price of C$4.75 per share represents a premium of 9 percent to Aurizon's Friday closing of C$4.35. Alamos had offered to buy the company for C$4.65 per share.Alamos Gold, which currently owns more than 16 percent of Aurizon, is Aurizon's largest shareholder."Hecla and Aurizon together create a unique precious metals company with three long-life, high-grade, low-cost mines in some of the best mining jurisdictions in the world," Hecla Chief Executive Phillips Baker said in a statement.
Alamos Gold Inc. is engaged in the acquisition, exploration, development and extraction of precious metals in Mexico and Turkey. Shares of AGI remained unchanged at $13.70. In the past year, the shares have traded as low as $13.09 and as high as $20.28. On average, 9143 shares of AGI exchange hands on a given day and today's volume is recorded at 0.
Alamos Gold Inc. is engaged in the acquisition, exploration, development and extraction of precious metals in Mexico and Turkey. Shares of AGI fell by 2.35% or $-0.34/share to $14.11. In the past year, the shares have traded as low as $13.32 and as high as $20.00. On average, 388992 shares of AGI.TO exchange hands on a given day and today's volume is recorded at 466522.
Aurizon Mines Ltd. (Aurizon), incorporated on April 8, 1988, is a Canada-based gold producer with operations and development activities in the Abitibi region of north-western Quebec. Shares of ARZ fell by 1.58% or $-0.07/share to $4.35. In the past year, the shares have traded as low as $3.15 and as high as $5.55. On average, 1093580 shares of ARZ.TO exchange hands on a given day and today's volume is recorded at 987277.
Aurizon Mines Ltd. (Aurizon), incorporated on April 8, 1988, is a Canada-based gold producer with operations and development activities in the Abitibi region of north-western Quebec. Shares of AZK remained unchanged at $4.22. In the past year, the shares have traded as low as $3.19 and as high as $5.57. On average, 927818 shares of AZK exchange hands on a given day and today's volume is recorded at 2400.
Hecla Mining Company is engaged in discovering, acquiring, developing, producing, and marketing silver, gold, lead and zinc. Shares of HL remained unchanged at $4.64. In the past year, the shares have traded as low as $3.70 and as high as $6.94. On average, 3428980 shares of HL exchange hands on a given day and today's volume is recorded at 4500.
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