Currently viewing Global edition

Alio Gold looks to take over Rye Patch

Alio Gold (CN:ALO) has made a friendly takeover bid for Nevada gold producer Rye Patch Gold (CN:RPM) in a move that looks to be geared towards protecting its flagship development project from larger gold players.

Alio Gold looks to take over Rye Patch Alio Gold looks to take over Rye Patch Alio Gold looks to take over Rye Patch Alio Gold looks to take over Rye Patch Alio Gold looks to take over Rye Patch

Ana Paula is expected to produce 116,000oz of gold and 166,000oz of silver when it starts up

The Toronto and New York-listed miner has agreed to pay the equivalent of C$128 million (US$98 million) in Alio shares for Rye Patch which, at C$1.