Agnico Eagle Mines

Agnico Eagle’s wholly owned subsidiary Avenir Minerals acquired 666,667 units of Canada Nickel for C$1,000,000.50; each unit consists of one common share and one-half warrant. One whole warrant entitles the holder to purchase one share at C$2.25 within 36 months. After the transaction Avenir holds 22,467,926 common shares and 8,293,962 warrants, representing approximately 8.68% undiluted and 11.52% partially diluted. Agnico Eagle has an investor agreement that secures rights to participate in financings up to a 15.6% stake and to nominate a board member, but currently does not intend to exercise the nomination right. » More on de.investing.com

Agnico Eagle Mines’ stock has risen more than 60% from the July low of USD 134.38, outperforming the Amex Gold Bugs Index. The drivers are a sharply higher gold price and operational momentum. Agnico is investing about CAD 57.2m (≈ USD 41.5m) for roughly ten percent of Radisson Mining Resources via a private placement to help finance the O’Brien gold project in Québec; buyers also receive warrants exercisable at CAD 1.39 within 60 months. » More on deraktionaer.de

At the Diggers & Dealers forum, Agnico Eagle presented a plan centered on long-life mines, intensive exploration and regional consolidation, targeting a 20–30% production increase over the next 5–10 years versus the current roughly 3.4 million ounces. Near-term growth pillars are Detour Lake, Canadian Malartic and Hope Bay: Detour Lake was described as a potential route to 1 million ounces per year, and Canadian Malartic will be converted to underground mining. The strategy emphasizes organic growth in stable jurisdictions, a strong balance sheet, dividends and buybacks, and cost discipline; however, growth depends on drill results, mine development and long-term capital investment. » More on de.investing.com