Yamana eyes Aladdin

Vancouver — While still digesting the December acquisition of privately held Platero Resources, Yamana Resources (YRI-T) has inked a deal to acquire Aladdin Sweepstake Consolidated Mining.

Aladdin holds 78 sq. km in the southern sector of the prolific Carlin trend gold belt in Nevada. The property, situated in the historical Railroad mining district, remains largely unexplored by modern methods. According to Yamana, more than 20 gold prospects have been identified. Of particular interest to the junior is a large Eocene-age intrusive body that appears to play an important role in the regional mineralization.

Subject to due diligence, Yamana will issue 11.4 million shares for the 5.7 million outstanding shares of the Nevada company. The deal, which will boost Yamana’s outstanding shares to 61.4 million, is expected to close by the end of March.