Agnico Eagle Min - AEM STOCK NEWS

Capella Minerals (TSXV: CMIL) (OTCQB: CMILF) has announced the termination of its asset sale agreement with Polar Transition Minerals AS for the sale of its central Norway copper assets. The agreement, initially announced on October 17, 2023, and amended on April 9, 2024, was terminated following the elapse of the July 7, 2024 long stop date. As a result, Capella regains 100% interest in its portfolio of high-grade copper-cobalt projects in the former Løkken and Røros mining districts, Trøndelag Province.

The company plans to pursue alternative strategies for advancing these projects, with a particular focus on the drill-ready targets at Åmot and Hessjøgruva. Eric Roth, Capella's President and CEO, stated that while the transaction was worth pursuing due to shared strategic vision, both companies are better served by moving forward independently at this stage.

Agnico Eagle Mines (NYSE: AEM, TSX: AEM) has announced a transaction with First Nordic Metals Corp. (TSX-V: FNM) to acquire 27,954,872 common shares of FNM. The deal involves exchanging amounts due under a previous asset purchase agreement for FNM shares at $0.2925 per share, totaling approximately $8,176,800. This non-brokered private placement is expected to close around July 22, 2024.

Upon completion, Agnico Eagle's ownership in FNM will increase from 0.75% to approximately 13.25% of outstanding shares. The transaction includes an investor rights agreement granting Agnico Eagle participation rights in future equity financings and potential board nomination rights. Agnico Eagle states that this acquisition is to settle remaining amounts due under the previous purchase agreement.

Agnico Eagle Mines (NYSE: AEM, TSX: AEM) has announced that it will release its second quarter 2024 financial results on July 31, 2024, after market close.

The company will hold a conference call to discuss the results on August 1, 2024, at 11:00 AM EDT, featuring senior management. Investors can listen to the live webcast via the company’s website or join by phone. The webcast and presentation slides will be archived for 180 days.

Replay of the conference call will be available until September 1, 2024.

Agnico Eagle Mines (NYSE: AEM, TSX: AEM) announced the acquisition of 33,821,842 common shares of Maple Gold Mines (TSXV: MGM) at $0.085 per share for a total of $2,874,856.57 on June 21, 2024. This raises Agnico's stake in Maple from 11.97% to 19.9% of issued and outstanding shares. The companies have an investor rights agreement allowing Agnico to maintain its pro rata ownership and potentially nominate board members. Additionally, a conveyance and option agreement will grant Maple 100% ownership of the Douay and Joutel Gold Projects, while Agnico will receive a 1.0% net smelter return royalty and retain options to acquire up to a 50% interest in these projects. Agnico's acquisition is for investment purposes, and future transactions may occur based on market conditions.

Agnico Eagle Mines has released an updated life of mine plan (2024 LOMP) and a preliminary economic assessment (2024 PEA) for its Detour Lake mine in Ontario, projecting an increase in annual gold production to one million ounces starting in 2030. This plan includes concurrent operations of open pit and a proposed underground mining project. The underground project and mill optimization could extend the mine's life to 2054, with significant exploration potential for further resource additions. Development capital expenditures are estimated at $731 million, with sustaining capital expenditures at $631 million. The projected after-tax IRR is 18% at a gold price of $1,900 per ounce, increasing to 25% at current prices of $2,300 per ounce. The company plans to invest $100 million over the next three years to further study and de-risk the underground project.

Capella Minerals and JV partner Austral Gold have entered into a Share Purchase Agreement with Unico Silver to sell their 100% interest in Sierra Blanca S.A., which owns the Sierra Blanca gold-silver project in Argentina. Capella and Austral own 45.31% and 54.69% stakes, respectively. Unico will acquire the project for 5,000,000 ordinary shares. This transaction aligns with Capella's strategy to focus on Scandinavian assets and divest non-core assets in the Americas. The deal is subject to regulatory approvals from the ASX and TSXV exchanges and requires Unico to get shareholder approval. Part of the consideration will be transferred to Sandstorm Gold to settle outstanding maintenance payments.

THE Mining Investment Event of the North, Quebec City is set to take place on June 4-6, 2024, and will feature notable speakers and sponsors from the mining industry. Jennifer Knight, Deputy Assistant Secretary for Textiles, will be a Keynote Speaker, along with other prominent figures. The event will host over 100 mining companies, including Agnico Eagle Mines (AEM), and provide a platform for networking and showcasing the latest developments in the sector.

Agnico Eagle Mines announced the renewal of its normal course issuer bid (NCIB), allowing the purchase and cancellation of up to 24,961,914 common shares or $500,000,000 worth of shares. Daily purchases are to 339,107 shares, with the bid ending on May 3, 2025. The NCIB will be funded using existing cash resources and will be conducted on the TSX and NYSE. Agnico Eagle aims to generate value for shareholders through this program.

Agnico Eagle Mines (NYSE: AEM) announced the election of directors at its annual and special meeting of shareholders. All eleven candidates listed in the management information circular were duly elected. The detailed results of the vote show high percentages of votes for each candidate, demonstrating strong shareholder support.