Agnico Eagle Mines Sold Entire Stake in Royal Road Minerals
Mining News | 2025-10-01 12:06:30
Earlier this month, Agnico sold its entire stake in Orla Mining for nearly $402 million.
By Paul Ploumis
SEATTLE (Scrap Monster): Leading Canadian gold miner Agnico Eagle Mines announced that it has sold its entire 18% stake in the copper-gold explorer Royal Road Minerals for approximately $3.96 million. Royal Road currently operates three developmental projects in Morocco, Saudi Arabia and Colombia.
The company sold nearly 47.9 million shares of Royal Road at C$0.115 each. The selling price represented a discount of over 6% from the market opening price of C$0.16 on Monday. It has already filed an early warning report, in accordance with applicable securities law.
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Agnico had been a long-time shareholder of Royal Road. In May 2019, it had doubled its shareholding with an equity investment of around C$5.2 million.
Agnico Eagle stated that the purpose of the share sale was to generate revenue from its Royal Road project. It aligns with the company's objective of concentrating entirely on organic growth and comes after a recent evaluation of its growth portfolio. Additionally, it stated that the company has no present plans to purchase Royal Road's ordinary shares or other instruments. Agnico sold all of its shares in Orla Mining earlier this month for over $402 million.
According to the corporation, its third quarter 2025 results will be made public on Wednesday, October 29, 2025, during regular business hours.
POLL
How likely are Agnico Eagle’s M&A decisions to impact its long-term growth strategy?
Frequently Asked Questions
- Why did Agnico Eagle decide to sell its stake?
- The sale was intended to generate revenue from the Royal Road project and aligns with Agnico’s strategy to focus entirely on organic growth.
- Does Agnico plan to repurchase Royal Road shares?
- No, the company has no current plans to buy back Royal Road’s ordinary shares or other instruments.
- When will Agnico Eagle release its next financial results?
- The company will release its Q3 2025 results on Wednesday, October 29, 2025.
