Alamos Gold, Inc. (TSE:AGI) has released an update.
Alamos Gold Inc. is set to acquire Argonaut Gold Inc., aiming to establish one of Canada’s most sizeable and cost-efficient gold mines by integrating Argonaut’s Magino mine with its own Island Gold mine. The deal, valued at approximately US$325 million, offers significant immediate and long-term financial and operational benefits, with a projected annual gold production increase to over 600,000 ounces. Additionally, Argonaut’s U.S. and Mexico assets will be spun off to shareholders under a new entity, enhancing Alamos Gold’s focus on Canadian assets and growth potential.
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