Movement Alert|Agnico Eagle Mines Rises 7.06% in Regular Trading, Gold Sector Rallies as Rupert Resources Acquisition Nears Completion

Market Focus06-15

On June 15, Agnico Eagle Mines rose 7.06% in regular trading, trading at $175.09/share, with turnover of $131 million.

On the news front, the gold sector rallied broadly, while the Supreme Court of British Columbia granted final approval for Agnico Eagle's acquisition 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 pipeline.

Within the Gold sector, peers posted strong gains: Coeur Mining up 10.38%, Pan American Silver up 9.33%, Wheaton Precious Metals up 8.04%, Newmont Mining up 6.27%, and Barrick Mining up 6.18%. Agnico Eagle Mines is Canada's largest mining company and the world's second-largest gold producer, with precious metals operations across Canada, Australia, Finland, and Mexico.

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