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Endeavour Silver pays $250 million for Mexican mines

Monday, April 16, 2012


Canada's Endeavour Silver 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.

Source: Reuters