TORONTO – AuRico Gold has completed the acquisition of Northgate Minerals. The deal was estimated to be worth US$1.48 billion.
AuRico now joins the ranks of intermediate gold producers with five producing mines. They are El Chanate, El Cubo and Ocampo in Mexico and the Fosterville and Stawell mines in Australia. The Young-Davidson gold mine in Ontario is nearing start-up. The Young-Davidson and Ocampo mines have a collective output of 500,000 oz of gold per year. Next in the development pipeline is the Kemess underground gold-copper mine.
The acquisition involved AuRico acquiring all the common shares of Northgate for 0.365 of an AuRico share per Northgate share. The companies will be amalgamated under the AuRico name, and Northgate was to have been delisted from the TSX and NYSE on Oct. 26, 2011.
Look for updates coming soon to AuRico’s website at www.AuRicoGold.com.