|Agnico-Eagle Mines Ltd - AEM.t operates four mines in Canada, one mine in Finland and one mine in Mexico.|
The Company reported 2016 production of 1,662,888 ounces of gold and 4.8 million ounces of silver.
Agnico Eagle to Purchase the Exploration Assets of Canadian Malartic Corporation; Including the Kirkland Lake and Hammond Reef Gold Projects
Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) ("Agnico Eagle" or the "Company") today announced that it has agreed to acquire all of the Canadian exploration assets of Canadian Malartic Corporation ("CMC"), including the Kirkland Lake and Hammond Reef Gold projects (the "Transaction"). CMC is a corporation 50-50 owned and operated by Agnico Eagle and Yamana Gold Inc. ("Yamana"). The Transaction is being structured as an asset deal, whereby Agnico Eagle will acquire all of Yamana's indirect 50% interest in the Canadian exploration assets of CMC, giving Agnico Eagle 100% ownership of CMC's interest in the assets on closing of the Transaction. The effective purchase price after the distribution of the sale proceeds by CMC to its shareholders will be US$162.5 million in cash.