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Agnico Eagle Mines Limited (NYSE:AEM) is one of Goldman Sachs top gold stock picks. On April 23, Agnico Eagle Mines Limited (NYSE:AEM)’s strategic partner at the Kolho Property in northern Finland, FireFox Gold Corp, announced significant exploration progress.
As part of a joint venture, the two companies have already spent $2.9 million on the project, with Agnico Eagle Mines completing base-of-till sampling. The company has collected 2,778 samples across the Hilla exploration permit.
Agnico Eagle Mines Ltd has also confirmed it will acquire Rupert Resources and Aurion Resources. The company is also poised to buy the majority stake in a joint venture from B2GOLD. The acquisitions are part of the company’s push to consolidate its key gold district in northern Finland. The acquisitions are poised to consolidate about 2,492 square kilometers and integrate the Ikkari gold project with Agnico’s existing Kittila mine, the largest gold mine in Europe.
Agnico has already announced plans to invest C$20 million in drilling at Ikkari and between C$60 million and C$100 million to expand resources and discover new deposits.
Agnico Eagle Mines Limited (NYSE:AEM) is a major Canadian-based gold producer and the world’s second-largest gold mining company. It operates high-quality mines in Canada, Australia, Finland, and Mexico, with a focus on exploration, development, and production. The company focuses on low-risk jurisdictions, aiming for sustainable, long-term gold production.
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