- Senior gold miner Agnico Eagle Mines (TSX:AEM) invested C$11,711,250 in Finland-based gold explorer and developer Rupert Resources (TSX:RUP)
- Agnico’s new investment increases its existing stake from 13.3 to 14 per cent
- Rupert Resources is a gold exploration and development company focused on its high-quality, multi-million-ounce Ikkari project in northern Finland
- Rupert Resources stock has added 16.71 per cent year-over-year and 566.15 per cent since 2020
Senior gold miner Agnico Eagle Mines (TSX:AEM) invested C$11,711,250 in Finland-based gold explorer and developer Rupert Resources (TSX:RUP), purchasing 2,602,500 shares priced at C$4.50 through a non-brokered private placement. The investment increases Agnico’s existing stake from 13.3 to 14 per cent.
Rupert’s Ikkari project is estimated to house 4.08 million ounces of gold indicated and 136,000 ounces inferred. The company delivered a pre-feasibility study for the project in February 2025, estimating an after-tax net present value (5 per cent) of US$1.7 billion.
Under its investor rights agreement from February 2020, Agnico will nominate Carol Plummer to Rupert’s board of directors at the latter’s upcoming annual general meeting. Plummer, Agnico’s executive vice-president of sustainability, people and culture, brings extensive project evaluation, mine building and operations experience with emphasis on Finland, where she served as general manager of Agnico’s Kittilä mine.
According to Tuesday’s news release, “Agnico Eagle believes that Ms. Plummer’s expertise will be a valuable asset to the Rupert board as Rupert advances the Ikkari project and continues exploring the full potential of the property.”
About Rupert Resources
Rupert Resources is a gold exploration and development company focused on its high-quality, multi-million-ounce Ikkari project in northern Finland.
Rupert Resources stock (TSX:RUP) is up by 5.35 per cent on the news trading at C$4.33 per share as of 11:43 am ET. The stock has added 16.71 per cent year-over-year and 566.15 per cent since 2020.
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(Top image: Rupert Resources)