{"id":1164920,"date":"2020-02-11T09:59:22","date_gmt":"2020-02-11T15:59:22","guid":{"rendered":"https:\/\/www.mining.com\/?p=1013592"},"modified":"2020-02-11T09:59:22","modified_gmt":"2020-02-11T15:59:22","slug":"agnico-eagle-grabs-stake-in-finish-explorer-to-access-key-asset","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1164920","title":{"rendered":"Agnico Eagle grabs stake in Finish explorer to access key asset"},"content":{"rendered":"<p>Agnico Eagle (TSX, NYSE: AEM) <a href=\"https:\/\/www.agnicoeagle.com\/English\/investor-relations\/news-and-events\/news-releases\/news-release-details\/2020\/Agnico-Eagle-Announces-Investment-in-Rupert-Resources-Ltd\/default.aspx\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">is set to take a 9.9% stake in Finland-focused Rupert Resources<\/a> (TSX-V: RUP) to gain access to the junior\u2019s flagship Pahtavaara gold project, located 50 km away from the Canadian company\u2019s Kittila mine.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The Toronto-based miner, which also<br \/>\nhas operations in Canada and Mexico, will invest C$13.1 million (about $9.8m) in<br \/>\nthe Finish explorer through a non-brokered placement at 85c per unit. The deal is<br \/>\nexpected to help unlock the potential of Pahtavaara and validate Rupert\u2019s exploration<br \/>\nin the region.<\/p>\n<p>&#8220;The new investment is expected to fund Rupert&#8217;s exploration campaign for at least 12 months and may lead to synergies in the event Rupert&#8217;s projects progress to the development stage,&#8221; the company\u2019s chief executive, James Withall, <a href=\"http:\/\/rupertresources.com\/13-1m-strategic-investment-from-agnico-eagle-mines-limited-for-a-9-9-shareholding\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">said in a statement<\/a>.<\/p>\n<p>As part of the transaction, Agnico<br \/>\nEagle subscribed to 15.3 million in a non-brokered private placement at a price<br \/>\nof 85 cents per unit. The senior gold company, in operations since 1957, was<br \/>\nalso granted certain ownership rights, including the right to nominate one<br \/>\nperson to Rupert&#8217;s board.<\/p>\n<p>The explorer contiguous land<br \/>\npackage is located in the centre of a region which hosts Agnico\u2019s 200,000-ounces-a-year<br \/>\nKittila operation \u2014 Europe&#8217;s largest gold mine.<\/p>\n<p>The underground mine produced 189,000 ounces of<br \/>\ngold in 2018 with cash costs of $835 per ounce of gold.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rupert Resources is developing the Pahtavaara gold project, located 50 km away from the Canadian company&rsquo;s Kittila mine.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[949,369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1164920"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1164920"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1164920\/revisions"}],"predecessor-version":[{"id":1164951,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1164920\/revisions\/1164951"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1164920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1164920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1164920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}