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Capella Minerals Ltd (CMIL) notes European Energy Metals Corp's completion of CAD 1 million in exploration expenditures on the Central Finland Lithium Project, confirming its earn-in to an initial 51% interest. European Energy's field teams discovered high-grade lithium prospects, with plans for scout drilling and further exploration. The President & CEO, Eric Roth, expressed satisfaction with the progress made.
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Agnico Eagle Mines Limited (AEM) will release its Q4 and full year 2023 results on February 15, 2024, followed by a conference call on February 16, 2024. The company's quarterly operating results for 2024 and Annual General Meeting of Shareholders are also scheduled.
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Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) announced the acquisition of 19,600,000 units of Canada Nickel Company Inc. at a price of $1.18 per unit for a total consideration of approximately $23,128,000. This investment represents an early-stage investment in the critical minerals sector, focusing on Canada. The acquisition aligns with Agnico Eagle's strategy of early-stage project investments, providing an opportunity to establish a presence in an emerging nickel belt.
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Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) announced the acquisition of 19,010,000 units of FireFox Gold Corp. in a non-brokered private placement at a price of $0.075 per unit for a total consideration of approximately $1,425,750. The acquisition represents approximately 10.9% of the issued and outstanding common shares on a non-diluted basis and 19.6% on a partially-diluted basis.
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Capella Minerals Ltd (TSXV: CMIL) (OTCQB: CMILF) (FRA: N7D2) has been granted an additional exploration permit covering the Killero West copper-gold target in Northern Finland. The company expects to commence scout core drilling of the priority Killero East target in late Q1, 2024, and is evaluating an initial diamond drill program on the Saattopora West target during the northern 2024 summer. Capella currently holds a 70% interest in the Northern Finland Copper-Gold project through a Joint Venture agreement with ASX-listed Cullen Resources Ltd. The company's President and CEO, Eric Roth, expressed pleasure in the granting of the Killero West exploration permit, which lies adjacent to the priority Killero East target and covers a second area of significant BoT copper-gold anomalies generated by Anglo American's regional exploration programs over a decade ago.
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The global financial arena is experiencing economic uncertainty, which is driving the recovery of the precious metal market. Gold, silver, platinum, and palladium, considered safe-haven investments, have increased in value due to current market conditions.
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Agnico Eagle Mines Limited announced that the Supreme Administrative Court of Finland has restored Kittila's operating permit to 2 million tonnes per annum. This allows Kittila to continue operating at a rate of 2 mtpa and is expected to result in approximately 30,000 ounces of additional gold production in Q4 2023. The company now expects its total annual gold production to be near the upper end of its guidance range for 2023.
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Agnico Eagle Mines Limited reported solid financial and operating results for Q3 2023. Gold production and cost performance remained strong, with quarterly net income of $0.36 per share. The Canadian Malartic and Meadowbank complexes drove solid production, offsetting lower production at Detour Lake and Fosterville. The temporary transformer issue at Detour Lake resulted in unscheduled mill downtime, but the mill returned to normal operating levels in September. The Supreme Administrative Court of Finland's decision on the Kittila operating permit is pending. Agnico Eagle reiterated its gold production, cost, and capital expenditure guidance for 2023. The Odyssey project at the Canadian Malartic complex and mill optimization initiatives at Detour Lake are progressing well. The Company also announced a transition in its board structure, with Mr. Boyd transitioning from Executive Chair to Chair of the board of directors.
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Barsele Minerals Corp. provides an update on diamond drilling at Barsele Gold-VMS Project in Sweden. Drilling at Risberget identified a wide zone of strongly altered and mineralized rock, warranting more drilling. Drilling at Avan extended the known gold mineralization by at least 300 meters to the northwest. Assay results are pending. The Barsele Project has an Inferred Mineral Resource of 2,086,000 ounces of gold and an Indicated Mineral Resource of 324,000 ounces of gold. The main gold-bearing system remains open in all directions.
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Agnico Eagle Mines Limited will release its Q3 2023 results on October 25, 2023, after trading hours. A conference call to discuss the financial and operating results will be held on October 26, 2023. The webcast and presentation slides will be available on the company's website.
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Agnico Eagle Mines Ltd.
OTC:AEM
AEM Rankings
AEM Stock Data
32.40B
497.18M
0.12%
71.6%
1.39%
Gold Ore Mining
Mining, Quarrying, and Oil and Gas Extraction
United States of America
Toronto
About AEM
agnico eagle is a senior canadian gold mining company that has produced precious metals since 1957. its eight mines are located in canada, finland and mexico, with exploration and development activities in each of these regions as well as in the united states. the company and its shareholders have full exposure to gold prices due to its long-standing policy of no forward gold sales. agnico eagle has declared a cash dividend every year since 1983.