mining

Agnico Eagle invests $23.1 million in Canada Nickel

Kitco Media
By Michael McCrae
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Agnico Eagle invests $23.1 million in Canada Nickel teaser image

(Kitco News) - Top ten gold miner, Agnico Eagle (NYSE: AEM), announced today it was investing $23.12 million in Canada Nickel Company (TSXV: CNC).

Price per share was $1.18. Agnico will own about 12% of the Ontario-focused, early-stage nickel company.

"Agnico Eagle's investment in Canada Nickel represents an early stage investment in this growing sector. Canada Nickel's large, prospective land package and portfolio of early-stage nickel-sulphide deposits are located in northern Ontario, in close proximity to Agnico Eagle's operations in the Abitibi region of Ontario and Quebec. Canada Nickel's Crawford Nickel-Cobalt Sulphide Project has a large nickel resource and is expected to have a low carbon footprint," wrote Agnico in a news release.

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Michael McCrae

Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties. He was co-founder and publisher of MINING.com, an award-winning news site. Before coming to media, McCrae worked in IT and banking. Please reach out: mmccrae@kitco.com or (514) 670-1383. You can also follow him at @michaelmccrae.

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