Canadian Miner Adds Mexican Project

Canadian Miner Adds Mexican Project

Mexico M&A Canada

Canadian gold producer Agnico-Eagle agreed to buy Mexico’s Grayd Resources in a deal valued at approximately CAD275m ($277m). The project is about 70km from Agnico-Eagle’s existing Pinos Altos operation, and could produce 92,000 ounces for nine years, says an analyst. David West, an analyst with Salman Partners, notes that the company, which is paying CAD 2.80 per share, a 65.7% premium to the average price for the 20-day period ending September 16, is in part paying for the exploration potentia

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