Canadian gold miner Agnico-Eagle Mines Ltd has agreed to purchase Cayden Resources Inc, a gold exploration company with projects in Mexico, for C$205 million ($186.84 million) in shares and cash, the two companies said on Monday. Directors and officers of Cayden, who own around 19.8 percent of its shares, support the transaction, the two miners said in a statement. (1 US dollar = 1.0972 Canadian dollar)
Agnico Eagle Mines Limited (Agnico Eagle) is a Canada-based international gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. Shares of AEM fell by 3.21% or $-1.12/share to $33.82. In the past year, the shares have traded as low as $23.77 and as high as $42.41. On average, 1805670 shares of AEM exchange hands on a given day and today's volume is recorded at 2729500.
Cayden Resources Inc is a junior exploration company. Shares of CYD fell by 3.91% or $-0.12/share to $2.95. In the past year, the shares have traded as low as $0.96 and as high as $3.07. On average, 76021 shares of CYD.V exchange hands on a given day and today's volume is recorded at 85723.
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