Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, December 20, 2024

Article Excerpt

AGNICO EAGLE MINES LTD., $112.41, symbol AEM on Toronto, owns currently producing gold mines in Canada, Australia, Finland and Mexico. Specifically, it owns the La Ronde, Canadian Malartic, Goldex, Maccassa, Detour Lake, Meliadine, Meadowbank and Hope Bay mines in Canada. It also owns the Fosterville mine in Australia, the Kittila mine in Finland, and the Pino Altos and La India mines in Mexico. On December 12, 2024, the company announced it had offered to acquire O3 Mining Inc. (symbol OIII on Toronto) for $204 million in cash. Agnico Eagle will pay $1.67 a share. O3 Mining’s primary asset is the Marban Alliance property in Val d’Or, Québec, adjacent to Agnico Eagle’s Canadian Malartic complex. The Marban deposit is an exploration project that could support an open-pit mining operation like the one at the Canadian Malartic complex. The Marban pit is estimated to contain more than 1.7 million ounces of gold in the indicated category. O3 also owns 128,000 hectares in Quebec that are undergoing…