Detour Gold Corp., the operator of the Detour Lake mine in Ontario, slumped the most in more than six years after saying Gerald Panneton resigned as chief executive officer as it faces “near-term challenges.”
Goldcorp Inc., the world’s second- largest miner of the metal, made an unsolicited offer to buy Osisko Mining Corp. for about C$2.6 billion ($2.38 billion) in a deal that would add 10 million ounces of gold reserves and make it the largest producer in Quebec.
Agnico Eagle Mines Ltd., the fifth- biggest Canadian gold producer, surged the most in almost five years after the company reported earnings that beat analysts’ estimates and said 2013 production and costs will be better than it previously forecast.
Barrick Gold Corp. is poised to resume its focus on gold after firing Chief Executive Officer Aaron Regent, who failed to boost the share price by expanding into copper with the acquisition of Equinox Minerals Ltd.
Kinross Gold Corp., a Canadian gold producer that has lost almost a third of its value this year, fired Chief Executive Officer Tye Burt and promoted another investment banker, J. Paul Rollinson, to replace him.