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Thursday, April 25, 11:41 AM Alamos Gold (AGI): Q1 EPS of $0.21 beats by $0.01. Comment! [Earnings, Breaking News]
Tuesday, March 19, 6:28 PM Alamos Gold (AGI) drops its hostile takeover offer for Aurizon Mines (AZK), saying its conditions have not been met due to a $27M break fee that would be payable to Hecla Mining (HL), which emerged with a white knight offer for AZK. HL's offer still requires approvals from two-thirds of votes cast at a shareholder meeting. Comment! [Commodities, M&A]
Tuesday, March 12, 8:21 AM Alamos Gold (AGI) goes on the offensive in the takeover battle for Aurizon Mines (AZK), asking a securities regulator to reject both a proposed $27M break fee and poison pill it believes are highly irregular. AGI CEO John McCluskey says if he loses the hearing at the British Columbia Securities Commission, the company probably would drop its hostile bid and walk away. Comment! [Commodities, M&A]
Monday, March 11, 9:07 AM Aurizon Mines (AZK) adopts a shareholder rights plan, seeking to prevent Alamos Gold (AGI) from using its voting power to defeat a better takeover offer from Hecla Mining (HL) and saying its plan will ensure all shareholders are treated equally. AZK says recent comments by AGI suggest it is attempting to gather enough shares to block the HL bid. Comment! [Commodities, M&A]
Friday, March 8, 12:38 PM Hecla Mining (HL +4%) is upgraded to Buy from Neutral with a $6.25 target price at Global Hunter, anticipating Aurizon Mines (AZK -0.2%) shareholders will find Hecla's takeover bid superior to that of Alamos Gold (AGI). With or without the transaction, the firm sees HL as an attractively priced diversified precious metals producer. Comment! [Commodities, Quick Ideas, On the Move]
Tuesday, March 5, 8:00 AM Aurizon Mines (AZK) urges shareholders to reject Alamos Gold's (AGI) takeover bid and approve the deal announced yesterday to sell itself to Hecla Mining (HL). AGI says it will not boost its offer, set to expire today, but argues that a combination with AZK would create a much more valuable company than the proposed deal with HL. Comment! [Commodities, M&A]
Monday, March 4, 8:34 AM U.S. silver miner Hecla Mining (HL) agrees to acquire Canadian gold miner Aurizon Mines (AZK) for ~C$796M, nearly a month after AZK rejected an offer from Alamos Gold (AGI). The offer price of C$4.75/share represents a 9% premium to Aurizon's Friday closing of C$4.35. HL -9%, AZK +6.2% premarket. 1 Comment [Commodities, M&A, On the Move]
Wednesday, January 23, 9:28 AM Aurizon Mines (AZK) says its board considers Alamos Gold's (AGI) $780M takeover offer "financially inadequate and opportunistic" and recommends shareholders reject the hostile bid. The offer is "timed to take advantage of a transition year for Aurizon that we believe will be the foundation of long-term value creation for our shareholders," AZK says. 2 Comments [Commodities, M&A]
Tuesday, January 15, 10:43 AM Alamos Gold (AGI) is a low-cost, open-pit gold miner in Mexico, while Aurizon Mines (AZK +2.1%) is a higher-cost, underground gold miner in Quebec. With no obvious strategic fit, analysts were caught off-guard by AGI's hostile bid for AZK; a Raymond James analyst is concerned about operating issues at AZK’s Casa Berardi mine, while another at the same firm sees the mine as fairly valued. Comment! [Commodities, M&A, On the Move]
Tuesday, January 15, 9:49 AM Aurizon Mines (AZK +1.3%) says it is in the process of reviewing and evaluating Alamos Gold's (AGI) unsolicited takeover offer. The company recommends shareholders defer taking any action on the Alamos offer until the Board makes a recommendation. Comment! [Commodities, M&A]
Monday, January 14, 8:11 AM Alamos Gold (AGI) offers ~C$780M in cash and stock to acquire Aurizon Mines (AZK) to gain access to AZK's only operating gold mine, Casa Berardi, in northern Quebec. The bid values AZK at $4.65/share, a 36% premium over Friday's Toronto closing price. Alamos also applies to list its common shares on the NYSE under the AGI ticker. AZK +27.4% premarket. Comment! [Commodities, M&A, On the Move]

AGI Alamos Gold Inc

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Alamos Gold Inc