03:47 PM EST - Alamos Gold Inc. : Announced that it has entered into an agreement to acquire and cancel a 3% net smelter return royalty payable on production from the Island Gold mine for total cash consideration of $75 million. The Royalty was acquired from a privately held company and is payable on gold production within four patented claims that comprise the majority of currently defined Mineral Reserves and Resources within the Island Gold deposit. The acquisition and elimination of the royalty will immediately reduce operating costs and increase operating cash flow while providing increased exposure to Island Gold’s significant exploration potential. Alamos Gold Inc.
shares T.AGI are trading up $1.18 at $6.61.
