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Stock impact report

Agnico Eagle Mines sells interest in Orla Mining for $405m [Yahoo! Finance]

Orla Mining Ltd. Common Shares (ORLA) 
Company Research Source: Yahoo! Finance
to 38,002,589 common shares, for C$14.75 per share, with total proceeds reaching C$560.5m ($405m). The sale, conducted through the Toronto Stock Exchange (TSX), involved buyers from Canada, the US and other countries. An early warning report will be filed by the company in accordance with securities regulations. Prior to this transaction, Agnico Eagle held an 11.3% non-diluted interest in Orla Mining. Agnico Eagle's investment strategy includes acquiring strategic positions in high-potential opportunities. The company periodically assesses its minority investments in relation to its strategic objectives. The sale of the Orla Mining shares allows Agnico Eagle to capitalise on its investment. The company has stated that it has no current plans to acquire further securities in Orla. Agnico Eagle president and CEO Ammar Al-Joundi said: “Our investment in Orla has been mutually beneficial for both companies. “With Orla's success in evolving into an established intermediate pr Show less Read more
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