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Mergers In Mining -- Canadian Commentary

Canadian stocks are looking for direction Monday mornng amid a flurry of merger news.

The TSX Composite has inched lower for three sessions in a row, but may get a boost from higher oil prices.

Crude oil was up 20 cents at $47.65 a barrel.

Alamos Gold Inc. (AGI.TO, AGI) announced Monday that it has agreed to acquire Richmont Mines Inc. (RIC.TO, RIC). The deal implies a total equity value of approximately $770 million on a fully diluted in-the-money basis and an enterprise value of $683 million.

Coeur Mining, Inc. (CDE) announced a definitive agreement to acquire privately-owned JDS Silver Holdings, Ltd. and its subsidiary, JDS Silver Inc. JDS Silver owns the silver-zinc-lead Silvertip mine located in northern British Columbia.

by RTT Staff Writer

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