January 18, 2013 09:43 am
Richard (Rick) Mills
Ahead of the Herd
As a general rule, the most successful man in life is the man who has the best information
On January 14th 2013, Alamos Gold Inc. announced it had acquired 23,507,283 Aurizon shares as a result of share purchase agreements between Alamos and certain shareholders of Aurizon. The 23,507,283 shares acquired represent approximately 14.3% of the issued and outstanding Aurizon shares.
Alamos also announced it had commenced a formal offer to acquire the rest of the issued and outstanding Aurizon Shares.
Aurizon will produce 127,000 ounces of gold at cash costs of $719/oz in 2013, ramping up to 153,000 oz in 2014 at estimated cash costs of $696/oz.
Alamos is trying to buy Aurizon for Casa Berardi and Joanna.
Aurizon’s Casa Berardi mine currently hosts 1.5 million ounces of reserves at a grade of 5.3 g/t, and 1.5 million ounces in measured and indicated resources at a grade of 4.3 g/t.
The Joanna project is Aurizon's 100 percent owned primary development project located in the Cadillac Larder Lake Break, between the towns of Rouyn-Noranda and Cadillac in Quebec. The property currently hosts 1.7 million ounces in reserves at a grade of 1.3 g/t and 0.9 million ounces in measured and indicated resources at a grade of 1.3 g/t.
While Aurizon has other projects on the go one in particular stands out - the option/JV deal between Aurizon and NioGold Mining Corporation (TSX-V: NOX).
read more http://aheadoftheherd.com/Newsletter/2013/Golden-Opportunity-Lies-in-the-Details.html