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A gold stock takeover and a uranium stock takeover
The resource stock market got off to a bang on Monday morning with two takeovers. It did not end up helping the TSX Venture though as Canada’s junior market finished down 10.72 pts.
Update link to BNN clip:
http://watch.bnn.ca/business-day-pm/january-2013/business-day-pm-january-14-2013/#clip843382
First off a gold takeover – Alamos gold makes a bid for Aurizon - Alamos makes $780-million takeover offer for Aurizon
Alamos is a mid tier gold producer that reached its goal of 200,000 ounces of production in 2012. This is an interesting takeover as Alamos and Aurizon are both low-cost producers. In the last quarter at its mine in Mexico Alamos had a cash cost below $360/ounce. Aurizon has historically been among the lowest cash cost producers until last quarter where it ran into some lower grade ore. Management has said this was a “one off” situation but 2013 was set to be a transition year to new mining areas. Interesting to note Aurizon has nearly 200 million in cash and has a 5w wk high of $5.75.
Read More: http://www.stockgoldmarket.com/a-gold-stock-takeover-and-a-uranium-stock-takeover
