logo
  

AuRico Gold Completes Sale Of Ocampo Mine To Minera Frisco - Quick Facts

AuRico Gold Inc. (AUQ,AUQ.TO) announced that it has completed the sale of the Ocampo mine and adjacent exploration projects "Venus" and "Los Jarros", located in Chihuahua, Mexico, to Minera Frisco, S.A.B. de C.V. (MFRVF.PK,MSNFY.PK).

Minera Frisco has also acquired a 50% interest in the Orion advanced exploration project and a joint venture agreement is currently being negotiated.

Total cash consideration paid at closing by Minera Frisco was US$750 million. AuRico will use the net proceeds from the sale to eliminate certain debt obligations, invest in internal growth opportunities, provide sufficient working capital and liquidity for the Company and undertake a significant return of capital to shareholders.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Comcast Corp. on Thursday reported that profit for the fourth quarter edged down 1.1 percent from last year, reflecting higher costs and expenses. Both adjusted earnings per share and quarterly revenues topped analysts' expectations. The company also declared a 7.4 percent higher quarterly dividend. Shares of SAP AG were losing more than 3 percent in the morning trading in Germany as well as in pre-market activity on the NYSE after the German software major reported Thursday sharply lower profit in its fourth quarter, despite higher revenues. Looking ahead for fiscal 2023, the company projects accelerating topline and double-digit adjusted operating profit growth. Meta Platforms announced its plans to end suspension of the former U.S. President Donald Trump's Facebook and Instagram accounts in the coming weeks. Further, the company has put new guardrails in place to deter repeat offenses, Global Affairs President Nick Clegg said in a statement. The decision comes after two years of banning him on the social media platforms following his praise for people...
Follow RTT