https://www.canadianminingjournal.com/
Agnico Eagle Mines (TSX: AEM; NYSE: AEM) made a $23.1-million investment in the recent flow-through offering from Canada Nickel Company (TSXV: CNC; OTCQX: CNIKF). Agnico acquired 19.6 million units at a price of $1.18 per unit for a total consideration of slightly more than $23.1 million. This gives Agnico a non-diluted equity interest in Canada Nickel of 12% or 15.6% on a partially diluted basis.
Canada Nickel raised a total of $34.7 million. Each unit consists of one flow-through share and 0.35 of one flow-through share purchase warrant. Each warrant entitles the holder to purchase an additional common share at a price of $1.77 any time prior to Dec. 29, 2026, or the expiry date.
Agnico Eagle said it made the purchase for investment purposes. Canada Nickel’s flagship project is the Crawford nickel sulphide deposit, for which it released a feasibility study in October 2023. Crawford contains the world’s second largest nickel resources which total 2.46 billion tonnes at 0.24% nickel, containing 13.30 billion lb. of nickel.
Over an initial life of 41 years, the project will produce 3.54 billion lb. of nickel, 52.9 million lb. of cobalt, 490,000 oz. of palladium and platinum, 58 million tonnes of iron, and 6.2 million lb. of chromium.
For the rest of this article: https://www.canadianminingjournal.com/news/agnico-eagle-invests-23m-for-12-of-canada-nickel/