Movement Alert|Agnico Eagle Mines Rises 3.03% in Regular Trading, Gold Sector Strengthens as Rupert Resources Acquisition Nears Completion

Market Focus06-17

On June 17, Agnico Eagle Mines rose 3.03% in regular trading, trading at $177.0/share, with turnover of $292 million. The rise was driven by broad strength in the gold sector and the imminent completion of the company's acquisition of Rupert Resources.

The Supreme Court of British Columbia previously granted final approval for Agnico Eagle's takeover of Rupert Resources, with the transaction expected to close this week. Under the arrangement, Rupert shareholders will receive 0.0401 of an Agnico Eagle share per share held, plus a contingent value right of up to C$3 in cash tied to milestones over a 10-year period. The deal is expected to further expand the company's exploration and development project reserves.

Within the Gold sector, the overall sector showed strength. Among individual stocks, Franco-Nevada up 4.19%, Wheaton Precious Metals up 4.07%, Newmont Mining up 2.9%, Barrick Mining up 2.82%, Coeur Mining up 1.26%.

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