Re. Lakeshore & Aurizon mines While we are waiting for lakeshore to get back to 4$ a share. :-) Something to ponder...
Cant recall if I was aware of this deal with Aurizon mines but in any case there are 2 other companies with offers to buy out Aurizon Gold. I believe I read somewhere that Lakeshore completed option agreement with Aurizon so deal would apply to new owners of Aurizon if by-out happens.
Alamos Gold Inc. and Hecla Mining Co. are both making offers for Aurizon Mines
July 22, 2010
Aurizon Mines Ltd. ("Aurizon")(TSX: ARZ; NYSE Amex: AZK) is encouraged by the results announced by Lake Shore Gold Corp. ("Lake Shore Gold") in its news release dated July 22, 2010 from Lake Shore Gold's winter drill program on the East Block of Aurizon's 100% owned Casa Berardi property in north-western Quebec.
In late 2007, Aurizon granted Lake Shore an option to earn up to a 50% interest in a portion of the extensive exploration property to the east and west of Aurizon's wholly-owned Casa Berardi mining operations by spending $5.0 million over five years (the "Casa Berardi Exploration Property"). Lake Shore Gold is the operator during the earn-in period.
"We are pleased with the exploration results announced today by Lake Shore Gold, which are consistent with our belief in the potential for additional mineralized structures along the Casa Berardi gold trend." said David Hall, President and CEO of Aurizon.
https://www.aurizon.com/English/News/News-Releases/News-Releases-Details/2010/Lake-Shore-Gold-Announces-Drill-Results-At-Casa-Berardi-Exploration-Property/default.aspx
map showing Lakeshore gold option with Aurizon mine...pdf file, scrool down to last map
https://www.aurizon.com/files/03_Casa%20Berardi%20Exploration%20Program%20-%20Gilles%20Carrier.pdf
Hecla Mining Company Announces CAD$796 Million Agreement to Acquire Aurizon Mines Ltd
https://www.goldseiten.de/minen/artikel.php?sid=164308
Hecla Mining Company (NYSE:HL)
(Hecla) (Company) is pleased to announce that it has entered into a
definitive arrangement agreement (Arrangement Agreement) with Aurizon
Mines Ltd. (TSX:ARZ) (NYSE:AZK) (Aurizon) pursuant to which Hecla will
acquire all of the issued and outstanding common shares of Aurizon in a
transaction with a total value of approximately CAD$796 million (the
Transaction).
Aurizon has formed a joint venture with Lake Shore Gold to explore the Casa Berardi fault region. Lake Shore has an option to earn up to a 50% interest in a portion of the Casa Berardi property by spending $5 million over five years. "Leveraging off Lake Shore's in-house geological database of the region that was inherited from Inco is a cost-effective way to build ounces quickly," according to Research Capital.
https://bullionbullscanada.com/index.php?option=com_content&view=article&id=934:lakeshore-gold&catid=59:company-listings&Itemid=117
# 64 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEARS ENDED DECEMBER 31, 2011 AND 2010(in thousands of Canadian dollars, except the per share amounts)Casa BerardiThe Company Lakeshore Gold...has a 50% earn-in right on the Casa Berardi property, as provided in a joint venture agreement between the Company andAurizon Mines Ltd. (“Aurizon”) entered into during the third quarter of 2007. The Company can earn its 50% interest by spending$5.0 million over five years. The Company is the operator during the earn-in period.If an indicated mineral resource of at least 500,000 ounces of gold at a minimum grade of 6.0 grams of gold per tonne (or economicequivalent thereof) is established, the area containing the resource plus a one kilometre radius surrounding the outer perimeter of theresource may be transferred to a specific property joint venture, in which Aurizon and Lake Shore Gold will each have a 50% interest.Aurizon will then have the right to earn an additional 10% interest in the specific property by funding the costs of a feasibility study.The Company has incurred a total of $4,817 toward the earn-in commitment (per the earn-in agreement, the Company charges a 10%administrative fee on the expenditures incurred toward the earn-in commitment).
https://www.slideshare.net/suttoncompliance/lakeshore-gold-2011