Wednesday, October 8, 2025

Latest

Agnico Eagle Acquires 94.1% Stake In O3 Mining Via Take-Over Bid

Agnico Eagle Mines (TSX: AEM) has been successful in its efforts to have shareholders tender their shares of O3 Mining (TSXV: OIII) to the company. The two entities jointly announced this morning that Agnico has managed to acquire 94.1% of the outstanding common shares of the company.

The tender offer saw Agnico offer $1.67 per share to O3 shareholders, which at the time of announcement in early December represented a premium of 57%. The offer price values O3 Mining at approximately $204 million on a fully diluted basis.

Consideration payable for the currently tendered shares amounts to $184.4 million, which Agnico has indicated will be paid by January 28. The expiry date on the offer meanwhile has been extended by ten days to allow for the remaining shareholders of O3 to tender their common shares for the same all cash figure of $1.67 a share.

Shares that are not tendered will be pursued via a second-step transaction. O3’s CEO, CFO, and corporate secretary will remain in their roles until that second-step transaction is complete, while the board of directors has been reconstituted to consist of Agnico Eagle representatives.

“While providing an opportunity for our shareholders to realize immediate value at a significant premium, the transaction will also enable the efficient advancement of the Marban Alliance project by Agnico Eagle, an experienced operator that has the financial strength, mining expertise and community commitment to take the project to its next stage of development,” commented Jose Vizquerra, CEO of O3 Mining.

Agnico Eagle last traded at $127.48 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

O3 Mining Drills 5.7 G/T Gold Over 14.5 Metres At Marban Project

O3 Mining Inc. (TSXV: OIII) this morning provided an update on its ongoing drill program at...

Monday, October 18, 2021, 10:38:00 AM

Mexico: The World’s Leading Silver Producer

There is a saying in the mining industry that miners go where the minerals are....

Saturday, February 6, 2021, 02:48:00 PM

O3 Mining Intersects 12.0 g/t Gold Over 8.3 Metres

O3 Mining (TSXV: OIII) this morning provided the latest assay results from its ongoing drill...

Monday, January 24, 2022, 07:50:46 AM

Agnico Eagle Reports 15% Earnings Beat in Q2 2024

Agnico Eagle Mines Limited (TSX: AEM) reported strong financial results for the second quarter of...

Thursday, August 1, 2024, 10:43:00 AM

Agnico Eagle Ends 2024 On An Upswing, Thanks To Strong Gold Environment

Agnico Eagle Mines (TSX: AEM) last night reported its Q4 and full-year 2024 results, highlighted...

Friday, February 14, 2025, 08:50:30 AM