The head of AuRico Gold says selling off its troubled Ocampo mine and other assets for $750 million will help it reduce debt, fund development and return cash to shareholders. Scott Perry said the agreement to sell the select operations to a company owned by Mexican billionaire Carlos Slim will eliminate AuRico's risk associated with the underground development at Ocampo, which has faced difficulties. AuRico shares closed up $1.34 or 21 per cent to $7.60 on the TSX as more than 7.8 mil-lion shares traded.
