Alamos Gold Announced Completion of Oxford Mining Acquisition

Last week, the company had entered into a definitive agreement to acquire all of the issued and outstanding shares of Argonaut Gold.

SEATTLE (Scrap Monster): Toronto-headquartered Alamos Gold Inc. announced that it has successfully completed previously announced acquisition of all of the issued and outstanding shares of Oxford Mining Corporation. The Ontario Superior Court of Justice granted the final order on 2^nd April, 2024.

Commenting on the development, John A. McCluskey, President and Chief Executive Officer, Alamos Gold said that the company is pleased to complete the acquisition of Orford Mining and its highly prospective Qiqavik Gold Project, located in Northern Quebec. The acquisition aligns with the company strategy to develop a series of high-quality, long-term projects, in good jurisdictions aimed at complementing its near-term growth projects in Canada, he added.

ALSO READ: Alamos Gold Posted Record Gold Output in Q2

Last week, the company had entered into a definitive agreement to acquire all of the issued and outstanding shares of Argonaut Gold. As part of the transaction, Alamos will acquire Argonaut’s Magino mine, located adjacent to its Island Gold mine in Ontario, Canada. The merger of the two operations is expected to create one of the largest and lowest cost gold mines in Canada.

The above transactions are expected to boost Alamos’ position as a leading, Canadian focused, intermediate producer.

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