VANCOUVER – Newly minted AuRico Metals (TSX: AMI; US-OTC: ARCTF) is poised to hit the ground running with a strong capital position and a portfolio of royalty assets that already make it cash flow positive.
The company is a spin-out from the recent US$1.5-billion merger between AuRico Gold and Alamos Gold (TSX: AGI; NYSE: AGI).
The new AuRico was bankrolled with US$25 million in cash, and holds a 100% interest in the past-producing Kemess gold-copper project, 250 km north of Smithers, BC, plus gold royalties that generate between US$7 million and US$8 million per year.
Major shareholders include New York-based hedge fund Van Eck Global and streaming company Sandstorm Gold (TSX: SSL; NYSE-MKT: SAND), which hold 15% and 12% equity interests.
Read the complete article at NorthernMiner.com/news/aurico