Ascot halts Premier gold mine operations in British Columbia just months after first pour
Insufficient ore feed from the Big Missouri and Premier Northern Lights deposits missed production targets and forced the halt.
AuRico Gold Inc. is paying the cheapest valuation for a takeover of a North American gold producer in seven years even as bullion trades at a record. Including net cash, AuRico’s acquisition valued Northgate at 14.7 times Ebitda. In last year’s biggest takeover, Toronto-based Kinross, Canada’s third-largest producer of the metal, paid 40.4 times Ebitda to acquire Red Back Mining of Vancouver in a $6.7 billion deal.
