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Canada
The Akasaba West Property is a gold-copper deposit located in the Bourlamaque and Louvicourt Townships, Val d’Or, Quebec. The Akasaba West Property is owned and operated by Agnico Eagle Mines Limited. Agnico acquired the project from Alexandria Minerals in 2014 and has received approval from a public hearing process. The federal and provincial permitting process is ongoing. Located less than 30 km from Goldex, the deposit could create flexibility and synergies for Agnico’s operations in the Abitibi region by using extra milling capacity at both Goldex and LaRonde, while reducing overall unit costs. The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile.
Agnico will maintain its buy-back right of 1% for C$7 million, and the Royalty will be payable after gold production on the claims comprising the property has exceeded 210,000 ounces.