April 15 (Reuters) – Canada’s Endeavour Silver Corp
is buying two of AuRico Gold’s silver and gold mining
interests in Mexico for up to $250 million in cash and stock to
expand its footprint in the country.
Endeavour will pay AuRico $100 million in cash and $100
million in Endeavour common shares for the El Cubo mine and the
Guadalupe y Calvo exploration project, the companies said.
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.
El Cubo is a producing mine located in the Guanajuato state
in central Mexico and Guadalupe y Calvo is an advanced
exploration project based in the Chihuahua State, Mexico.
The deal is expected to increase Endeavour’s 2012 silver
production by at least 12 percent to 4.8 million ounces.
