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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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From: Repete	8/29/2011 12:56:53 PM
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UPDATE: AuRico Gold To Buy Northgate For C$1.5B, Scuttling Primero Deal 11:11 AM ET 8/29/11 \| Dow Jones RELATED QUOTES 12:38 PM ET 8/29/11 Symbol Last % Chg AUQ 11.97 -14.01% NXG 4.27 35.56% PPP 3.57 -15.40% Quotes delayed at least 15 minutes (Adds further detail throughout, starting with the deal value in the first paragraph, and share-price movement in paragraph 5.) -AuRico Gold plans to buy Northgate for about C$1.5 billion -Northgate's premier asset is its Young-Davidson gold project in Ontario -Northgate had planned to merge with Primero Mining in C$370 million deal By Edward Welsch Of DOW JONES NEWSWIRES CALGARY (Dow Jones)--AuRico Gold Inc. (AUQ) agreed to buy fellow Canadian gold miner Northgate Minerals Corp. (NXG) for C$1.46 billion (US$1.49 billion) as consolidation among gold miners continues in the wake of record gold prices. The deal with Aurico scuttles plans Northgate made last month to merge with Primero Mining Corp. (PPP) in a C$370 million share swap. The combination of AuRico and Northgate comes as gold prices again trade near $1,800 an ounce after spot prices reached a record high of $1,912 an ounce last week. AuRico is offering 0.365 of a share for each Northgate share, valuing Northgate shares at C$5.01 each, or a 60% premium to where Northgate's shares were trading on Friday. In Toronto trading recently, Northgate was up C$1.14, or 37%, at C$4.24, while AuRico was down C$1.84, or 13%, at C$11.88.

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