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AuRico Gold (AUQ) +10.9% premarket after agreeing to sell its troubled Ocampo mine in Mexico and...

AuRico Gold (AUQ) +10.9% premarket after agreeing to sell its troubled Ocampo mine in Mexico and other properties to Carlos Slim's Minera Frisco for $750M. Canaccord upgrades shares to Buy from Hold, saying the deal will improve AUQ's balance sheet: "The sale should reduce volatility and increase predictability of quarterly results - more desirable from a capital markets standpoint."
Comments (1)
  • blueice
    , contributor
    Comments (3122) | Send Message
     
    A flat admission, by management, that it over spent...

     

    The question is, how much did this overreach cost the shareholders, as Mr Slim is well known as a distress buyer..
    10 Oct 2012, 11:29 AM Reply Like
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