NEWS ROUNDUP — Agnico finances Goldex purchase

To finance the acquisition of the remaining interest in the Goldex gold deposit in Quebec, Goldex Mines (TSE) has issued 1.78 million flow-through shares at $1.15 to parent Agnico-Eagle Mines (TSE).

The $2.05-million acquisition raises Goldex’s interest in the Goldex extension zone to 100% from 60%. Agnico’s share of Goldex jumps to 57% from 50%.

President Paul Penna said Goldex is not working on the property at the moment, but plans to deepen the shaft if gold prices improve. Meanwhile, a drill program scheduled for November on Sudbury Contact Mines’ (TSE) properties at Kirkland Lake, Ont., will finally get under way this month, Penna said. Sudbury Contact is a member of the Agnico-Eagle Mines group of companies.