Agnico Eagle Declares Additional Investment in Cartier Resources

Core Viewpoint - Agnico Eagle Mines Limited (AEM) has agreed to subscribe for 20,770,000 units of Cartier Resources Inc. in a private placement, indicating a strategic investment to increase its stake in Cartier [1] Group 1: Investment Details - AEM will invest C$2,700,100 at a price of C$0.13 per unit, with each unit comprising one common share and one purchase warrant [1] - The purchase warrants allow AEM to acquire additional common shares at C$0.18 for five years post-closing, with potential acceleration clauses [1] - The transaction is expected to close around April 10, 2025, pending certain conditions [1] Group 2: Ownership Structure - Currently, AEM holds 97,022,944 common shares and 7,000,000 purchase warrants, representing approximately 26.6% of outstanding shares on an undiluted basis [2] - Post-transaction, AEM's holdings will increase to 117,792,944 common shares and 20,770,000 offering warrants, leading to ownership of about 27.7% on an undiluted basis and 32.2% on a partially-diluted basis [2] Group 3: Market Performance - AEM's shares have appreciated by 86.3% over the past year, outperforming the industry average increase of 47.9% [3] Group 4: Future Production and Costs - For 2025, AEM anticipates gold production between 3.3 to 3.5 million ounces, with total cash costs per ounce projected between $915 and $965 [4] - The all-in sustaining costs (AISC) per ounce are expected to range from $1,250 to $1,300, with capital expenditures projected between $1.75 billion and $1.95 billion [4]