The prospect of owning Aurizon Mines Ltd. seems to terrify investors.
On Monday Hecla Mining Co. launched a friendly takeover bid for Aurizon, outbidding rival hostile bidder Alamos Gold. And for the second time this year investors in one of the potential acquirers dumped their shares in protest.
On the day that Alamos launched its bid, the company’s shareholders sent the stock plummeting 12 per cent. Now Hecla’s shareholders are following suit, sending Hecla’s stock down nearly 14 per cent Monday.