Canadian gold miner Mandalay agrees to US$358-million takeover by smaller Australia's Alkane

Open this photo in gallery: Gold bars stacked at the United States Mint in West Point, N.Y., in 2014. Gold miners Alkane Resources and Toronto-based Mandalay Resources announced a takeover by Alkane on Monday. They hope investors will reward the combined firm with a ‘rerate,’ as gold prices rise on investor uncertainty.Mike Groll/The Canadian Press Australia's Alkane Resources Ltd. ALKEF is offering to buy Canadian gold company Mandalay Resources Corp. MND-T in an all-stock deal worth roughly US$358-million aimed at boosting liquidity and scale that will see the smaller company take over the bigger one. Despite record-high bullion prices, many…