Shares in TSX-V-listed junior Royal Road rose 8% on Friday following an announcement that gold miner Agnico Eagle has bought more than 26-million shares of the company in a private placement.
Agnico Eagle’s purchase at C$0.20 a share increased its shareholding in the Central and South America-focused exploration firm from 9.43% to 19.9%, with the miner now owning 42 512 708 ordinary shares.