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TORONTO - Agnico Eagle Mines Limited (NYSE:AEM) (TSX:AEM), which has delivered an impressive 99% return year-to-date according to InvestingPro data, announced Tuesday it has acquired 586,619 units of Maple Gold Mines Ltd. (TSXV:MGM) through a non-brokered private placement for approximately $351,971.
Each unit, priced at $0.60, consists of one common share and one purchase warrant. The warrants allow Agnico Eagle to acquire additional shares at C$0.85 per share over the next 36 months, subject to certain conditions.
Prior to this transaction, Agnico Eagle owned approximately 16.32% of Maple Gold’s outstanding common shares. Following the private placement, Agnico Eagle now holds 8,054,045 common shares and 586,619 warrants, representing about 15.38% of Maple Gold’s shares on a non-diluted basis and 16.32% on a partially-diluted basis.
The companies have maintained an investor rights agreement since October 2020, which grants Agnico Eagle participation rights in equity financings to maintain its ownership position, with the potential to acquire up to a 19.90% stake in Maple Gold.
Agnico Eagle described the investment as part of its strategy to acquire "strategic positions in prospective opportunities with high geological potential," according to the press release statement. The company indicated it may acquire additional securities or dispose of its holdings in the future depending on market conditions and other factors.
Agnico Eagle, Canada’s largest mining company and the world’s second-largest gold producer, operates mines in Canada, Australia, Finland, and Mexico. The company has paid cash dividends annually since 1983.
In other recent news, Agnico Eagle Mines Limited reported impressive financial results for the second quarter of 2025. The company exceeded market expectations by posting an earnings per share of CAD 1.94, surpassing the forecasted CAD 1.75. Additionally, Agnico Eagle achieved record revenue of CAD 2.8 billion, which was higher than the anticipated CAD 2.65 billion. In a strategic move, Agnico Eagle sold its entire 11.3% stake in Orla Mining Ltd. for C$560.5 million, divesting 38,002,589 common shares through the Toronto Stock Exchange. Furthermore, Moody’s Ratings upgraded Agnico Eagle’s long-term issuer rating to A3 from Baa1, citing the company’s debt reduction efforts, including $1.25 billion in debt repayments planned between January 2024 and June 2025. The outlook for the company was changed to stable from positive. These recent developments highlight Agnico Eagle’s strong financial position and strategic decisions.
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