Alamos Gold, Inc. (TSE:AGI) has released an update.
Alamos Gold Inc. has announced the acquisition of Argonaut Gold Inc., aiming to create one of Canada’s largest and most cost-efficient gold mines by integrating Argonaut’s Magino mine with Alamos’s Island Gold mine. The deal, valued at approximately US$325 million, promises immediate and long-term synergies estimated at US$515 million, with a projected increase in gold production to over 600,000 ounces annually. Moreover, Argonaut’s assets in the United States and Mexico will be spun off into a new entity, SpinCo, providing additional value to shareholders.
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