Agnico Eagle invests $60-million to increase stake in Cadillac Mines

Open this photo in gallery:A refiner pours bars of gold at Agnico-Eagle's Meadowbank mine facility in Meadowbank Mine, Nunavut.Sean Kilpatrick/The Canadian PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountAgnico Eagle Mines Ltd. AEM-T has signed a deal to increase its stake in Cadillac Mines Corp.Under the agreement, Agnico Eagle has agreed to acquire 8,696,000 shares of Cadillac at a price of $6.90 per share for a total of $60-million.Agnico Eagle already owns 22.8 million Cadillac shares for a 9.7 per cent stake.It is expected to hold an 11.1 per cent interest once the latest investment is complete.Cadillac holds a portfolio of gold and critical mineral projects in Ontario and Quebec.Agnico Eagle says it’s acquiring the shares as part of its strategy…

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