10:12 AM EST - Primero Mining Corp. : and Northgate Minerals Corporation announced today that they have entered into a definitive arrangement agreement to combine their respective businesses and create a new, leading mid-tier gold producer with significant value creation opportunities. The combined company will benefit from the current production and expansion potential at the San Dimas mine in Mexico and the Fosterville and Stawell gold mines in Australia, together with the long-life Young-Davidson gold development project in Ontario. The new company will be led by Joe Conway, current President and Chief Executive Officer of Primero. The transaction will create a company with an expected combined market capitalization of approximately $1.2 billion. Primero Mining Corp.
shares T.P are trading up $0.35 at $4.05.
