Thursday, July 10, 2014

Agnico-Eagle Mines Ltd - AEM.t

Agnico-Eagle Mines Ltd - AEM.t operates four mines in Canada, one mine in Finland and one mine in Mexico.

The Company expects to produce about 1,190,000 ounces of gold in 2014, and by 2016 around 1,275,000 ounces.​​​​​​​






On June 16, 2014 the company released News

Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) ("Agnico Eagle") and Yamana Gold Inc. (TSX:YRI, NYSE:AUY) ("Yamana") are pleased to announce today the completion of their previously announced court-approved plan of arrangement (the "Arrangement") pursuant to which Agnico Eagle and Yamana have jointly acquired 100% of the issued and outstanding common shares of Osisko Mining Corporation ("Osisko"). Osisko's common shares will be de-listed from the Toronto Stock Exchange ("TSX") as at the close of business today.

Agnico Eagle and Yamana now each own 50% of Osisko and have formed a joint committee to operate the Canadian Malartic mine in Quebec. The partners will also jointly explore and potentially develop the Kirkland Lake assets, and continue exploration at the Hammond Reef, Pandora, and Wood-Pandora properties.

The Arrangement

Each outstanding common share of Osisko was exchanged for:
• C$2.09 in cash;
• 0.07264 of an Agnico Eagle common share;
• 0.26471 of a Yamana common share; and
• 0.1 of one common share of Osisko Gold Royalties Ltd., a newly formed company that has commenced trading on the Toronto Stock Exchange under the symbol "OR". Pursuant to the Arrangement, the following assets of Osisko have been transferred to Osisko Gold Royalties Ltd.: (i) a 5% net smelter royalty ("NSR") on the Canadian Malartic mine; (ii) C$157 million cash; (iii) a 2% NSR on the Kirkland Lake assets, the Hammond Reef project, and certain other properties; (iv) all assets and liabilities of Osisko in its Guerrero camp; and (v) certain other investments and assets.

"With the acquisition of Osisko now completed, Agnico Eagle looks forward to working with Yamana to further optimize the Canadian Malartic mine and build on the solid operational performance achieved in May 2014," said Sean Boyd , President and Chief Executive Officer of Agnico Eagle. "In addition, we are jointly reviewing the Kirkland Lake portfolio with the intent of designing an exploration program to expand and upgrade the current resource base to further enhance shareholder value," added Mr. Boyd. - See more at: http://ir.agnicoeagle.com/English/investor-relations/news-releases/news-release-details/2014/Agnico-Eagle-and-Yamana-Gold-complete-acquisition-of-Osisko-Mining-Corporation-and-the-Canadian-Malartic-mine/default.aspx#sthash.nqrAg0L1.dpuf
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http://pennystockjournal.blogspot.com/2014/07/agnico-eagle-mines-ltd-aemt.html


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