Alamos buys rival Argonaut

Canadian miner Alamos Gold has announced its acquisition of smaller rival Argonaut in an all-stock deal valued at $325-million. The move is poised to create a gold miner with a combined long-term production potential exceeding 900 000 oz/y. Central to the transaction is Alamos’ acquisition of Argonaut’s Magino mine, which is strategically located adjacent to its own Island Gold mine, in Ontario.