RE: Buyout candidatedefinetely a takeover target!
Agnico-Eagle Mines (AEM-T, AEM-N) needs a third pearl in nunavut...
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Taylor MacDonald: The Perfect Storm for Gold
Source: Sally Lowder of The Gold Report (2/9/11)
TGR: Any other names that come to mind?
TM:North Country Gold Corp. (TSX.V:NCG)is another gold development company that we're very interested in. Ithas a strong management team and is backed by the Discovery Group,which has an excellent track record for exploring and developing largeprecious and base metals, Kaminak Gold Corporation (TSX.V:KAM) being the highlight. Discovery is also involved with a couple of other companies, including Kivalliq Energy Corp. (TSX.V:KIV),which is working in Nunavut right now.
It's trying to replicate amodel that was amply demonstrated by Cumberland Resources Ltd., aprivately held coal miner that was bought out by Massey Energy Company (NYSE:MEE), and Comaplex Minerals Corp., which was taken over by Agnico-Eagle Mines Ltd. (TSX:AEM; NYSE:AEM).
Soyou've got a developing mining district in Nunavut. A couple of majorsin the region are looking to consolidate, but this is anopen-pittable, high-grade deposit with a very large land package andhuge potential. The company's got a resource in its back pocket thatit's waiting to pull out. It's fully cashed up and has been drillingthis aggressively. From what I've seen and heard, we're likely lookingat 3–5 Moz. in average grade at 3–4 g/t. And there are a lot of suitorsin the region, Agnico-Eagle and who knows—maybe Kinross Gold Corp. (TSX:K; NYSE:KGC) starts consolidating in the area, as well (as they're starting to do in the Yukon).
TGR: Well, we know that Agnico-Eagle and Newmont Mining Corp. (NYSE:NEM)have to replace those ounces as they mine through them. If thisdeposit looks compelling to them, assuming that the resource continuesto be outlined and increased, it could be an acquisition target downthe road.
TM: Definitely. So, we really like North Country.
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Agnico's two pearls in Nunavut
Agnico's two pearls in Nunavut
Northern Miner
Sep 12 - 18, 2011 Volume 97 Number 30
Agnico's two pearls in Nunavut
By: Salma Tarikh
Baker Lake, Nunavut
2011-09-12
It's been a tough and ambitious foray in Canada's Arctic for Agnico-Eagle Mines (AEM-T, AEM-N), but one that holds much promise.
Fouryears ago the company scoured the continents for new deposits andscooped up the Meadowbank gold asset, and then last year acquired theMeliadine gold project. Both are in Nunavut's Kivalliq region, or whatEbe Scherkus, Agnico's president and COO, likes to call the company'soyster.
The Meadowbank mine is 300 km west of Hudson Bay and 70 km north of Baker Lake, the nearest community.
Some 290 km to the southeast, Agnico is developing the Meliadine project, which is 25 km north of Rankin Inlet.
Theflight from Baker Lake to the Meadowbank mine via Rankin Inlet reveals aflat and serene landscape. Once on the ground, the camp facilitiesdominate, with little else to see. But the feeling that you've venturedinto one of Canada's remote and isolated corners vanishes once you enterthe bustling facilities.
"We really believe there is a lot ofpotential in the Arctic," Scherkus tells visitors to the mine in lateJune. "We believe that the early bird will get the worm."
Todate, the Meadowbank mine and Meliadine project contain nearly 29% ofAgnico's growing gold reserves and more than 38% of its gold resources,which says a lot for a company with five other producing gold mines inQuebec, Mexico and Finland.
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