Referenced Stocks

UPDATE: AuRico Gold to Sell Mine; Enters JV on Orion Project, Shares Soar 19%

By Midnight Trader,  October 10, 2012, 01:57:43 PM EDT

Shares of AuRico Gold Inc. ( AUQ ) have shot up 19.47% to $47.67 after Minera Frisco SAB agreed to acquire mining assets in Mexico from AuRico Gold Inc. ( AUQ ) for $750 million.

AUQ will use the proceeds from the transaction to eliminate certain debt obligations, invest in internal growth opportunities, provide sufficient working capital and liquidity for the Company going forward and to undertake a significant return of capital to shareholders.

AUQ is up 17.6% at $7.55, moving on volume of 13.10 million vs. the 30-day avg. of 3.25 million. Shares trade in a 52-week range of $5.25 - $11.20 and have decreased 26% in the last 12 months.




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

Referenced Stocks: AUQ



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