Alamos bids $28.5M for remaining Carlisle shares

Alamos Gold (TSX: AGI; NYSE: AGI) has agreed to buy the shares it doesn’t already own of Carlisle Goldfields (TSX: CGJ) for $28.5 million, so it could gain a 100% interest in the Lynn Lake gold project in Lynn Lake, MB. The gold miner owns a 25% interest in the project and a 19.9% interest in Carlisle through a November 2014 agreement between its predecessor, AuRico Gold, and the junior. Under that agreement, Alamos has the right to earn up to 60% of Lynn Lake by spending $20 million and delivering a feasibility study on the project within three years. BMO analyst Brian Quast describes Alamos’ proposal to spend $28.5 million to consolidate its ownership in the Lynn Lake asset and eliminate the earn-in agreement as a “wise move.” It also works out to be a wise deal for Carlisle. … Read the complete article at NorthernMiner.com/news/alamos-carlisle