Agnico Eagle Makes Additional C$8.25 Million Investment in Fuerte Metals
By Robb M. Stewart
Agnico Eagle Mines bumped up its investment in Fuerte Metals by 8.25 million Canadian dollars ($5.9 million) as the Canadian miner continues to build stakes in projects where it sees geological potential.
The Canadian gold producer said it bought 5 million subscription receipts in a wholly owned subsidiary of Fuerte at C$1.65 apiece.
Each receipt is set to convert into one corporate unit of Fuerte, comprising one share and one share warrant allowing the holder to buy a share at C$2.50 apiece over a five-year period.
Following the transaction, Agnico will own a roughly 8.1% interest in Fuerte on a non-diluted basis and about 11.7% on a partially diluted basis that assumes the exercise of the warrants. Agnico currently holds about 8.4% of Fuerte's shares on a non-diluted basis.
In March, Agnico completed a deal to buy TSX Venture-listed O3 Mining. The same month it agreed to raise its stake in Cartier Resources for C$2.7 million, and in May Agnico agreed to lift its stake in Foran Mining to about 13% with a C$90 million investment.
Agnico's moves come amid a rise in deal-making in the gold industry as the price of the precious metal has continued to hit fresh all-time highs this year.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
October 09, 2025 09:52 ET (13:52 GMT)
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