March 5, 2013 / 11:46 PM / 5 years ago

UPDATE 1-Alamos says close to blocking Hecla's rival bid for Aurizon

* About 29.5 pct of Aurizon investors have tendered to our offer: CEO

* Alamos CEO says has “good support” from “large shareholders”

By Garima Goel

March 5 (Reuters) - Alamos Gold Inc said it was close to blocking Hecla Mining Co’s rival bid for Aurizon Mines Ltd , and had the support of other “large shareholders.”

Alamos said it had 29.5 percent Aurizon shares as on Tuesday afternoon, including the 16.11 percent stake it already held in the company.

“I have been talking to other large shareholders, and collectively we feel that Hecla’s proposal is a very very weak bet,” Chief Executive John McCluskey told Reuters.

“By virtue of the fact that approximately 29.5 percent of the shares have already tendered to our offer, it’s a guess we already have a strong enough position to block (Hecla‘s) plan of arrangement from going through.”

Alamos, which extended its tender offer deadline to March 19, said in a statement earlier on Tuesday that shareholders had tendered about 10.26 percent of Aurizon shares as of March 4.

Alamos said on Monday it would not raise its offer, following U.S. silver miner Hecla’s rival bid of about C$796 million ($774 million).

Aurizon had rejected an unsolicited takeover offer from Alamos, its largest single shareholder, in January for about C$780 million.

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