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TSX Morning Mover: AuRico Gold (TSX: AUQ)
Category: Investment, Gold, Mining
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Visit this company: AuRico Gold
New York, New York - October 10, 2012 (Investorideas.com Mining stocks newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector for independent investors issues a trading alert for AURICO GOLD INC (TSX:AUQ), making the top trading list for the TSX for October 10 th. The stock is trading at $7.30, up $1.04 or 16.61% as of 10:53AM EDT on over 3.6 Million shares.
The Company reported that it has entered into a definitive agreement pursuant to which Minera Frisco, S.A.B. de C.V. will acquire the Ocampo mine and the adjacent exploration projects "Venus" and "Los Jarros" all located in Chihuahua State, Mexico and a 50% interest in the Orion advanced development project located in Nayarit State, Mexico from AuRico Gold, for a total cash consideration of $750 million (the "Transaction"). Minera Frisco (BMV: MFRISCO, OTC: MSNFY) is a leading Mexican mining company that was spun out of Grupo Carso S.A. de C.V. (BMV: GCARSO, OTC: GPOVY) in November 2010 and is listed on the Mexican Stock Exchange with a current market capitalization of approximately $10.7 billion. The transaction is expected to close in December 2012.
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