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Posted AT 7:33 AM EDT on 24/07/08

Kinross bids $1.2-billion for Aurelian

Reuters

TORONTO — Kinross Gold Corp said Thursday it planned to buy Aurelian Resources Inc in a friendly deal worth $1.2-billion, giving the Canadian mid-tier gold miner ownership of the Fruta del Norte discovery in south-eastern Ecuador. Kinross said it would offer Aurelian shareholders 0.317 of a Kinross common share, plus 0.1429 of a warrant, valuing it at $8.20 per Aurelian common share.

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