Sunday, August 3, 2025

Latest

ATEX Resources Secures US$40 Million Investment From Agnico Eagle

Funding continues to trickle down from major metals producers into the junior space. Agnico Eagle (TSX: AEM) this morning was the latest major to take a stake in a junior, after making an investment in ATEX Resources (TSXV: ATEX).

The funding will see Agnico take a 13.21% interest in ATEX in exchange for a US$40 million investment. The investment consists of Agnico acquire 33.9 million units of ATEX at a price of C$1.63 per unit, with each unit consisting of one common share and one half of a common share purchase warrant. Warrants are valid for a period of five years and contain an expiry of five years from the date of issuance. An acceleration clause is also in play.

In making the investment, Agnico stated that the move was consistent with its “historical practice of strategic equity investments in projects with high geological potential.” The major specifically outlined that ATEX offers exposure to an early stage copper-gold exploration project in Chile.

ATEX’s flagship project, Valeriano, is found in the Atacama region of northern Chile. The project contains a surface alteration zone said to be over 10 kilometres long and 4 kilometres wide, with a 2023 resource estimate outlining that the project contains over 9.01 million ounces of gold, 15.5 billion pounds of copper, 43.6 million ounces of silver, and 90,000 tonnes of molybdenum, all within the inferred category.

As part of the investment, Agnico will obtain certain investor rights, including the right nominate one person to the board of directors, and top-up rights in any future funding round, with the company having the ability to obtain up to a 19.99% interest in ATEX.

ATEX has indicated that a portion of its funds from the financing will be utilized to repay an outstanding US$15 million credit facility.

ATEX Resources last traded at $1.45 on the TSX Venture.


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

AngloGold Buys Another Gold Junior! Augusta Gold Acquired For $197 Million

Another Gold Deal! Aris Mining Sells Assets To McFarlane

Royal Gold Goes Big | $3.5 Billion Sandstorm Acquisition

Recommended

Tsunami Warnings Spread As Largest Quake Since 2011 Hits Russia

Northern Superior Intersects 1.75 g/t Gold Over 65.0 Metres At Philibert

Related News

Agnico Eagle Posts Record Net Income in Q1 2025 Despite Lower Gold Sales And Surging Tax Bill

Agnico Eagle Mines (TSX: AEM) posted a record-breaking net income of $814.7 million in Q1...

Friday, April 25, 2025, 08:31:36 AM

Agnico Eagle To Spend $100 Million To Study Underground Mining Potential At Detour Lake

Agnico Eagle (TSX: AEM) is set to spend $100 million over the next three years...

Wednesday, June 19, 2024, 08:34:16 AM

White Gold To Raise $9.0 Million Via Non-Brokered Financing

White Gold Corp (TSXV: WGO) is the latest mining firm to announce a flow-through offering...

Friday, November 26, 2021, 08:06:58 AM

Agnico Eagle Tells Ottawa: Build the North or Risk Losing It

Agnico Eagle Mines (TSX: AEM) is urging the incoming federal government to establish a formal...

Monday, May 5, 2025, 12:01:00 PM

Agnico Eagle Q4 Earnings: The Lowest Cost Producer

Third quarter 2024 earnings saw Agnico Eagle (TSX: AEM) come out on top in terms...

Sunday, February 16, 2025, 04:15:00 PM