Alamos Gold acquires Argonaut Gold in a $350M all-stock deal for synergistic Magino gold mine in Ontario.

Toronto-based Alamos Gold is acquiring Argonaut Gold in a $350M all-stock deal to improve the troubled Magino gold mine in northern Ontario. Alamos plans to merge its Island Gold operation with Argonaut's Magino mine, located near each other in Dubreuilville, Ontario. The combined operations are expected to generate significant cost savings through shared infrastructure use, totaling approximately $515M.