Thursday, June 21, 2012, 11:15 AM
AuRico Gold (AUQ -2.8%), fresh off its $1.3B purchase of Northgate Minerals, says it’s focused on its existing assets and will be “opportunistic&r... in considering further deals. CEO Rene Marion expects M&A activity in the gold mining industry will accelerate because gold stocks are trading more cheaply while new mines are becoming more expensive to build.
Comment![Commodities, M&A, On the Move]
Tuesday, August 30, 2011, 4:18 PM
AuRico's (AUQ) purchase of Northgate Minerals at 14.7X EBITDA is the cheapest valuation for a gold miner worth more than $1B since 2004. Pricing of gold miners "has moved to an extreme, and one of the things that should actually correct this ... is M&A," says a fund manager.
Comment![Commodities, M&A]
Monday, August 29, 2011, 10:52 AM
Primero Mining (MNOCF.PK -16.6%) is the big loser in AuRico Gold's (AUQ -12.3%) buyout of Northgate Minerals (NXG +38%). Northgate orignially planned to buy Primero for C$370M, but terminated the agreement after accepting the buyout offer from AuRico. Primero, waiving its right to match the deal, will receive a C$25M termination fee.
Comment![Commodities, On the Move, M&A]
Monday, August 29, 2011, 8:01 AM
AuRico Gold (AUQ -0.9%) agrees to buy Northgate Minerals (NXG) for C$1.46B ($1.48B) in a deal that will create an intermediate gold company. Northgate had a market capitalization of $920M at Friday's close and shares are +57% premarket. (PR)
Comment![Commodities, M&A]
tippycanoes: I accumulate it under 8.... got a decent position already. Young davidson is loaded.
1/5/12
•!Report Abuse
The_American I'm liking the Gold Mining Industry consolidation. Lots of money to be made with the GDXGDXJNUGTAUQ I also think HL is cheap & pays DIVY
12/17/11
Reply
(4)
•!Report Abuse
View all 4 replies
AlphaVolume: HL traded at $5.50 when silver was at $12.... SLW also has 1.5% dividend and much better growth than HL.
12/18/11
•!Report Abuse
The_American: SLW collects royalties as well If I'm betting which I am HL would be a cheaper buy and a better bang ffor the buck
12/18/11
•!Report Abuse
johnybutts Any idea what the hangup on AUQ is? It's underperforming the miners pretty well.
12/16/11
Reply
(2)
•!Report Abuse
View all 2 replies
Rocket Robin: It didn't reach 2008's level yet, like some other miners. Some allready hitted the bottom of 2008. Would expect it in the 4-5$ area soon.
12/16/11
•!Report Abuse
tippycanoes: Still hung up on the northgate buy id guess. I want in but not yet...Ill start legging in soon. The young davidson mine looks good to me.
12/16/11
•!Report Abuse
tippycanoes AUQ...any news? Stock has alittle more volume than usual and is climbing slowly.
12/12/11
Reply
(3)
•!Report Abuse
View all 3 replies
johnybutts: It's also underperformed the other miners for the last month. revision toward the mean?
12/12/11
•!Report Abuse
losbronces: Thats another possibility. You never know with small miners.