Tectonic Metals gets funding for gold exploration in Alaska
The company's Flat gold project is located 40 km north of the giant Donlin gold project.
AuRico Gold Inc. is paying the cheapest valuation for a takeover of a North American gold producer in seven years even as bullion trades at a record. Including net cash, AuRico’s acquisition valued Northgate at 14.7 times Ebitda. In last year’s biggest takeover, Toronto-based Kinross, Canada’s third-largest producer of the metal, paid 40.4 times Ebitda to acquire Red Back Mining of Vancouver in a $6.7 billion deal.
