The Canadian PressDecember 16, 2013 09:01
TORONTO, Cananda - Primero Mining Corp. (TSX:P) is preparing to acquire Brigus Gold Corp. (TSX:BRD) in a friendly all-stock deal valued at about US$220 million.
The enlarged Primero would produce the equivalent of 250,000 to 270,000 ounces of gold by next year from two producing mines.
It also has the potential to produce 400,000 gold-equivalent ounces by 2017.
"This acquisition is immediately accretive to our production and cash flow," Joseph Conway, Primero's chief executive, said in a statement.