Mentioned:
AEM -7.41% CAM -7.14%

Agnico Eagle is buying a large equity stake in a publicly traded exploration company in Canada. But, why?

What’s happening:

  • Agnico Eagle (NYSE: AEM) has made a strategic investment of $7.6M CAD in Cascadia Minerals (TSXV: CAM)

By the numbers:‍

  • Agnico Eagle will own 19.90% of Cascadia Minerals following their equity investment

Why it matters:‍

  • This is the first time that Agnico Eagle has ever taken an ownership stake in Cascadia Minerals

Going deeper:‍

  • Cascadia Minerals’ flagship asset is the Carmacks Project located in the historic Minto Copper Belt region of central Yukon and contains a large scale deposit of both copper and gold
  • Agnico Eagle will also receive an earn-in deal to own 51% of Cascadia Minerals’ Catch project located in the Yukon in exchange for funding $10M CAD of exploration costs over the next three years

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