NEWS ROUNDUP — Agnico, Goldex talk amalgamation

Gold producer Agnico-Eagle Mines (TSE) and junior Goldex Mines (TSE) are discussing an amalgamation.

Proposed is that Goldex holders exchange their shares for Agnico shares, making Agnico the sole owner of the junior. Agnico currently has a 56.4% interest in Goldex, which has slightly more than 13 million shares outstanding.

All directors of Goldex, except Glen Kean, sit on the Agnico board. Paul Penna is president of both companies. Agnico manages the junior’s affairs. Agnico has gold mines in northwestern Quebec. Goldex is also active in that part of the province, in particular in Malartic where it is developing its Goldex Extension property.