Goldcorp to buy stake in Auryn Resources for C$35 million

Fury Gold Mines

09/01/2017 16:39

Jan 9 (Reuters) - Auryn Resources Inc  AUG.TO  said on 
Monday that Goldcorp Inc  G.TO , the world's third-largest gold 
producer by market value, would buy a stake in the Canadian 
exploration company for C$35 million ($26.49 million), sending 
its shares up nearly 15 percent. 
    Auryn owns the Committee Bay gold project in Nunavut and the 
Homestake Ridge gold project in British Columbia. It also owns 
gold properties in Peru.  
    Large gold producers are increasingly relying on small 
exploration companies to do the heavy lifting of searching for 
new deposits and are taking stakes of 10 percent to 20 percent 
in them.  urn:newsml:reuters.com:*:nL1N1B51EY 
    Goldcorp will buy 9.5 million shares in Auryn at C$3.67 
each. Shares of Auryn were up 45 Canadian cents, or nearly 15 
percent, at C$3.50 on the Toronto Stock Exchange after the deal 
was announced, while Goldcorp rose 6 Canadian cents to C$19.39.  
   
    ($1 = 1.3215 Canadian dollars) 
 
 (Reporting by Nicole Mordant in Vancouver; Editing by Lisa Von 
Ahn) 
 ((nicole.mordant@thomsonreuters.com; +1-778-374-3854; Reuters 
Messaging: nicole.mordant.thomsonreuters.com@reuters.net)) 
 
Keywords: AURYN RESOURCES M&A/GOLDCORP