Sandstorm Gold lifts AuRico stake
TORONTO (miningweekly.com) – Gold streaming and royalty company Sandstorm Gold has increased its stake in Canadian mining royalty and development company AuRico Metals to about 13%.
It previously owned about 14.17-million AuRico shares, representing 11% of AuRico's issued and outstanding stocks.
Sandstorm had now bought an additional 2.61-million AuRico shares on the open market, at prices varying between C$0.64 to C$0.71 a share, lifting its stake to 13%.
Sandstorm advised that it had acquired the shares for investment purposes.
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