- Agnico Eagle Mines (TSX:AEM) has agreed to purchase 30 million voting shares of Foran Mining (TSX:FOM) priced at C$3 each for a total investment of C$90 million
- Agnico Eagle is the third-largest gold producer in the world
- Agnico Eagle stock has added 56.19 per cent year-over-year but only 50.48 per cent since 2020
Agnico Eagle Mines (TSX:AEM) has agreed to purchase 30 million voting shares of Foran Mining (TSX:FOM) priced at C$3 each for a total investment of C$90 million.
Foran’s McIlvenna Bay deposit in Saskatchewan is estimated to house 38.6 million tons grading 2.02 per cent copper equivalent indicated and 4.5 million tons grading 1.71 per cent copper equivalent inferred.
The investment will close in two tranches, with the first expected to close on May 28, growing Agnico Eagle’s existing stake in Foran from 39,125,448 shares or 9.9 per cent of the company to 64,454,767…
