11:04 AM EST, 01/24/2025 (MT Newswires) -- Agnico Eagle earlier Friday said it has purchased 94.1% of O3 Mining ( OIIIF ) shares, for $184.4 million. The company has also extended the expiry time of the offer to Feb. 3.

Agnico Eagle also issued earning warning notices for Cartier Resources ( ECRFF ). and Stllr Gold ( STLRF ).

Immediately before the take-up of the deposited shares, AEM owned ~15.6% of the issued and outstanding Cartier shares on a partially diluted basis. As a result of the acquisition of O3 Mining ( OIIIF ), AEM is now deemed to have ~26.7% stake in Cartier, on a basic basis. Assuming full exercise of the warrants held by AEM, this would jump to ~28% of the issued and outstanding shares of Cartier on a partially diluted basis.

Agnico Eagle is deemed to have a 10.1% stake in Stllr Gold ( STLRF ), on a basic basis.

Agnico Eagle is rated Outperform, with a $144 target at National Bank.

Price: 128.76, Change: +1.28, Percent Change: +1.00