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AngloGold Ashanti Ltd., Africa’s biggest gold producer, agreed to buy Golden Cycle Gold Corp. for $149 million in stock, Golden Cycle said.
Golden Cycle owns a minority stake in the Cripple Creek & Victor Gold Mining Co., a U.S. gold mine majority owned by AngloGold.
Golden Cycle investors will receive 29 AngloGold shares for every 100 they own, Colorado Springs-based Golden Cycle said in statement to PRNewswire today.
