Welcome back to Stockhouse Member Sign In
Sign in with one of the following accounts.
Send my password
Become a member today, It's free!
We will not release or resell your information to third parties without your permission.
Use one of the following accounts.
The resource stock market got off to a bang on Monday morning with two takeovers. It did not end up helping the TSX Venture though as Canada’s junior market finished down 10.72 pts.
First off a gold takeover – Alamos gold makes a bid for Aurizon - Alamos makes $780-million takeover offer for Aurizon
Alamos is a mid tier gold producer that reached its goal of 200,000 ounces of production in 2012. This is an interesting takeover as Alamos and Aurizon are both low-cost producers. In the last quarter at its mine in Mexico Alamos had a cash cost below $360/ounce. Aurizon has historically been among the lowest cash cost producers until last quarter where it ran into some lower grade ore. Management has said this was a “one off” situation but 2013 was set to be a transition year to new mining areas. Interesting to note Aurizon has nearly 200 million in cash and has a 5w wk high of $5.75.
Second we have a uranium takeover – Uranium one agrees to takeover by Atomredmetzoloto- Uranium One signs Atomredmetzoloto going-private deal
A deal in the Uranium sector which many analysts are expecting to heat up later on in 2013 with the restart of the nuclear reactors in Japan as while as the end of the HEU agreement between the US and Russia. AMRZ already owns 51.4% of Uranium One and has bid $2.86 per share for the remainder of the company. All uranium stocks I follow had a bump up on this news today.