I was concerned on reading that news and thought maybe I should sell some EDR. After doing some dd, I think I will sell AUQ instead and buy more EDR. I think AUQ is overvalued as they have sold most of their good assets. Following some comments from Casey on the subject.
Toronto: October 17, 2012: AuRico Gold Inc. (TSX:AUQ) (NYSE: AUQ), (“AuRico Gold” or “the Company”) today announced that it has sold its approximate 11.1% equity interest in Endeavour Silver Corp. (“Endeavour”), consisting of approximately 11 million Endeavour common shares, on an underwritten block trade basis, for gross proceeds of C$95 million (approximately US$97 million). The syndicate was jointly led by CIBC, BMO Capital Markets and Dundee Securities Ltd.
"Comments: This is a puzzling move and quite frankly doesn't make much sense. It's not as if the company needs the cash - they just sold what has been their flagship mine for three-quarters of a billion dollars. And the growth prospects of Endeavour are greater than AuRico's. No reason is given in the press release, though we have our suspicions. If you have not exited AUQ yet, we would view this as a good opportunity to do so"