Agnico Eagle Mines Limited announced an agreement with Goldsky Resources Corp. under which Goldsky will acquire the remaining 55% interest in the Barsele project in Sweden. The transaction values the consideration at a combination of US$20 million in cash, the issuance of 75.5 million Goldsky common shares, and a 2% net smelter return royalty payable to Agnico Eagle. Upon completion, Agnico Eagle will increase its equity stake in Goldsky to about 32.5% on a non-diluted basis, retaining exposure to the project’s future upside while divesting direct ownership. The deal is expected to close by June 30, 2026, subject to regulatory and shareholder approvals, and aligns with Agnico Eagle’s strategy to optimize its portfolio and focus on its core development pipeline.

Source: PR Newswire, CNW