Endeavour Silver to Buy Mining Interests in Mexico From AuRico

By Midnight Trader,  April 16, 2012, 08:50:07 AM EDT

Canada's Endeavour Silver Corp (EDR.TO) is buying two of AuRico Gold's (AUQ.TO) silver and gold mining interests in Mexico - the El Cubo mine and the Guadalupe y Calvo exploration project - for $100 million in cash and $100 million in Endeavour common shares.

Toronto-based AuRico is also entitled to get an additional $50 million in cash payments upon the occurrence of certain events during the three years after closing.

The deal is expected to increase Endeavour's 2012 silver production by at least 12% to 4.8 million ounces.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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