At least someone is investing in the juniors. Agnico-Eagle Mines (AEM-T)announced that it has agreed to subscribe for 6,250,000 units
of Kootenay Silver (KTN-V) in a non-brokered private placement at a price of $0.76 per Unit for total consideration of $4,750,000. Each
Unit is comprised of one common share of KTN and one-half of one common share purchase warrant of KTN, entitling AEM to
acquire one common share at a price of $1.08 for a period of two years from the closing date. On closing of the private
placement, AEM will hold 6,250,000 common shares and 3,125,000 warrants, representing 9.96% of the issued and outstanding
common shares on a non-diluted basis and 14.23% of the common shares assuming exercise of the warrants.
AEM stated that it is acquiring the units for investment purposes.
KTN flagship property is the former producing Promontorio Silver mine in Sonora State, Mexico. The most recent updated NI 43-101
mineral estimate on Promontorio contains a combined Measured and
Indicated silver resource of 61,679,000 silver eq oz (37.5M oz Silver, 372M lbs Lead, 436.9M lbs Zinc), and an additional 14,469,000
silver eq oz in the Inferred category (9.6M oz Silver, 77.6M lbs Lead, 85.3M lbs Zinc).
Agnico-Eagle Mines (AEM-T)’s strategic investment.
Sulliden Gold (SUE-T), April 9/13 for $24,000,000
ATAC Resources (ATC-V), March 19/13 for $12,960,000. |
