Agnico Eagle Mines Ltd. - AEM STOCK NEWS

On November 8, 2022, Pan American Silver and Agnico Eagle Mines announced that their arrangement agreement with Yamana Gold became effective after Gold Fields terminated its prior agreement with Yamana. Consequently, Yamana's special shareholder meeting scheduled for November 21, 2022, is canceled. Yamana is liable to pay a $300 million termination fee to Gold Fields, with Pan American contributing $150 million towards this fee. The arrangement positions both companies for potential growth in the mining sector.

On November 8, 2022, Pan American Silver and Agnico Eagle Mines announced the effectiveness of their arrangement agreement with Yamana Gold, following the termination of Gold Fields' agreement with Yamana. This agreement allows Pan American to contribute $150 million towards a $300 million termination fee that Yamana owes to Gold Fields. As a result, a previously scheduled special meeting of Yamana shareholders is cancelled. Both companies continue to enhance their operational foothold in the mining sector, focusing on silver and gold production.

On November 8, 2022, Pan American Silver and Agnico Eagle Mines announced the execution of an agreement to acquire Yamana Gold. This agreement follows their definitive binding offer dated November 4, 2022, where Pan American aims to acquire all outstanding shares of Yamana. Yamana's board has deemed this a "superior proposal" compared to an existing offer from Gold Fields. The Pan American-Agnico agreement will be effective if the Gold Fields transaction is not approved at the Yamana shareholder meeting on November 21, 2022, or if Gold Fields terminates its agreement, potentially incurring a $300 million termination fee.

On November 8, 2022, Pan American Silver and Agnico Eagle Mines announced that Yamana Gold executed an arrangement agreement to proceed with the Pan American-Agnico Transaction, where Pan American will acquire all common shares of Yamana. This follows Yamana’s board deeming this offer a 'Superior Proposal' after Gold Fields waived its right to match. Shareholders will vote against the Gold Fields Transaction at the Yamana Meeting on November 21, 2022. The agreement's effectiveness hinges on the Gold Fields transaction's outcome, with a potential $300 million termination fee for Yamana if the Gold Fields Agreement is terminated.

Pan American Silver Corp. (TSX: PAAS) and Agnico Eagle Limited (TSX: AEM) have submitted a binding offer to acquire Yamana Gold Inc. The deal proposes Pan American to acquire all outstanding shares of Yamana, consolidating control over the Canadian Malartic mine. The offer values each Yamana share at approximately US$5.02, reflecting a 23% premium. The transaction aims to create a leading precious metals producer in Latin America, boosting annual silver production by about 50% and gold production by 100%. The Arrangement is expected to close in Q1 2023, subject to various approvals.

On November 4, 2022, Pan American Silver Corp (PAAS) and Agnico Eagle Limited (AEM) announced a definitive binding offer to acquire Yamana Gold Inc. The transaction includes the exchange of each Yamana Share for approximately $1.04 in cash and shares of Pan American and Agnico Eagle, valuing Yamana at $5.02 per share. This deal would consolidate ownership of the Canadian Malartic mine and enhance Pan American's production capacity in Latin America. The offer is deemed a 'Superior Proposal' and is not subject to financing conditions, aiming to complete by Q1 2023.

Agnico Eagle Mines Limited (NYSE: AEM) reported strong third-quarter 2022 results with payable gold production of 816,795 ounces at production costs of $804 per ounce. The company achieved net income of $79.6 million ($0.17/share) and adjusted net income of $235.4 million ($0.52/share). Despite inflationary pressures, operational efficiencies were noted across its mines, particularly at Amaruq and Macassa. Capital expenditure guidance remains steady at $1.4 billion, with ongoing project developments, including the Odyssey project, expected to contribute to future production growth.

Agnico Eagle Mines Limited (NYSE: AEM) will announce its third quarter 2022 results on October 26, 2022, after trading hours. Following this, a conference call is scheduled for October 27, 2022, at 11:00 AM EDT to discuss the financial and operational results. Investors can access the live audio webcast on the company's website. For telephone participation, dial 416-764-8659 or toll-free 1-888-664-6392. A replay will be available until November 27, 2022.

Agnico Eagle and Teck Resources announced a joint venture for the San Nicolás copper-zinc project in Zacatecas, Mexico. Agnico Eagle will invest US$580 million for a 50% stake, which will cover initial project costs. The project boasts an estimated 105.2 million tonnes of mineral reserves, with first production expected in 2026. Governance will be shared equally, leveraging both companies' mining expertise. Completion of a feasibility study is set for early 2024.