Fronteer Development Group Inc. (FRG.TO,FRG) announced that Fronteer, Teck Resources Ltd., (TCK.B.TO, TCK) and Alamos Gold Inc. (AGI.TO) have entered into a memorandum of understanding, providing for Alamos to acquire 100% of the Agi Dagi and Kirazli gold projects from Teck and Fronteer through the acquisition of certain Turkish subsidiaries held by Teck and Fronteer.
Alamos is to pay a total of US$40 million and issue a total of 4 million shares to Teck and Fronteer in consideration for acquiring these two projects. In addition to statutory compensation that may apply to the projects, a third party has a 2% Net Smelter Return Royalty on production from the Agi Dagi project. The agreement does not include the Halilaga property, a copper-gold porphyry project in Turkey also owned by Teck and Fronteer.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.