- Agnico Eagle announced its intention to acquire TMAC Resources in the first major deal in the gold sector this year.
- The company acquired TMAC for a very reasonable price of less than $250 million, potentially adding over 150,000 ounces of production per year, and providing a significant boost to reserves.
- However, more important than the very reasonable price tag, this production growth and reserve increase came with zero sacrifice on jurisdiction.
- I believe this was a brilliant acquisition for Agnico Eagle to add to its Nunavut operating portfolio, and I continue to believe that pullbacks to $65.00 would provide low-risk buying opportunities.
For further details see:
Agnico Eagle: TMAC Acquisition Significantly Boosts Gold Reserves