Following the transaction’s closure, the businesses will set up an investor rights settlement granting Agnico the choice to take part in future fairness financings and doubtlessly nominate board members.
First Nordic is finalizing its acquisition of the Oijärvi gold challenge in Finland. This acquisition consists of the Kylmäkangas gold deposit, characterised by high-grade sources and potential for growth, the corporate stated.
“Oijärvi has all the important thing attributes FNM seems for in a high-quality challenge – excessive grades, important progress potential and an amazing location. We’re thrilled to welcome Agnico Eagle and stay up for having them as a big shareholder,” First Nordic CEO Taj Singh stated in a information launch.
The Kylmäkangas challenge boasts an indicated mineral useful resource of 159,000 oz. of gold equal and an inferred useful resource of 152,000 oz., with ongoing exploration indicating additional growth alternatives. Historic drilling has recognized further zones of mineralization.
In Sweden, First Nordic’s flagship asset, the Barsele gold challenge, is working below a three way partnership with Agnico. The partnership enhances First Nordic’s operational capabilities and underscores Agnico’s dedication to increasing its European portfolio, the corporate stated.