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News Breaks | | | | March 4, 2013 | | 07:20 EDT |  | AZK, HL | Hecla Mining to acquire Aurizon Mines for C$796M
The board of Aurizon Mines (AZK) announced that it has entered into a definitive agreement pursuant to which Hecla Mining (HL) will acquire all of the outstanding diluted common shares of Aurizon for approximately C$796M. The transaction will be implemented by way of a plan of arrangement under the Business Corporations Act. Under the terms of the Arrangement, Aurizon shareholders may elect to receive in exchange for each Aurizon Share, C$4.75 per share or 0.9953 of a Hecla share or a combination of both, subject in each case to pro-ration based on a maximum cash consideration of approximately C$513.6M and a maximum of approximately 57,000,000 Hecla shares. Assuming that all shareholders elect to receive either cash or Hecla shares, the consideration will be fully pro-rated with each shareholder being entitled to receive C$3.11 in cash and 0.3446 of a Hecla share for each Aurizon share. The C$4.75 per share offer price represents an approximately 12% premium to the current implied C$4.26 per share value of the Alamos Offer based on the closing share price of Alamos Gold on March 1 and assuming that all shareholders elected to receive cash or shares. | |
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News For AZK;HL From The Last 14 Days Check below for free stories on AZK;HL the last two weeks. |
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| May 15, 2013 | | 07:04 EDT |  | AZK | Aurizon Mines reports Q1 EPS (2c), consensus 0c
 Subscribe for More Information | | | May 10, 2013 | | 08:27 EDT | | AZK, HL | Hecla Mining says Aurizon Mines shareholders voted in favor acquisition
On May 9, Aurizon Mines (AZK) shareholders voted in favor of the Hecla (HL) acquisition, the company announced. Hecla said it expects to complete the acquisition of Aurizon during the second quarter upon receipt of Investment Canada regulatory approval. Aurizon's core asset is the Casa Berardi gold mine in Quebec, Canada, with 2013 gold production estimated by Aurizon of 125,000-130,000 ounces. Also, subsequent to the first quarter, Hecla completed a $500M offering of 6.875% Senior Notes due 2021, which will partially fund the acquisition, it said. | | | 08:24 EDT | | HL | Hecla Mining reports Q1 adjusted EPS 1c, consensus 4c
Reports Q1 revenue $76.5M, consensus $94.78M. Reports Q1 silver production 1.9M ounces at a cash cost of $7.02 per ounce, net of by-products. | | | May 9, 2013 | | 17:42 EDT | | AZK | Aurizon Mines securityholders approve plan of arrangements
Subscribe for More Information | | | 15:27 EDT | | HL | Notable companies reporting before tomorrow's open
Subscribe for More Information | | | May 8, 2013 | | 08:36 EDT | | AZK | Aurizon Mines announces preliminary results of Hecla arrangement elections
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