Rupert, Aurion shares soar on Agnico-Eagle takeover news

Agnico-Eagle Mines Ltd. [AEM-TSX, AEM-NYSE] has announced a plan to complete a comprehensive consolidation of properties in the Central Lapland Greenstone Belt in northern Finland. In keeping with that plan, the company has entered into three separate transactions, including the acquisition of Rupert Resources Ltd. [RUP-TSX] and Aurion Resources Ltd. [AU-TSXV, AIRRF-OTCQX].; plus the acquisition of a 70% interest in the Fingold Ventures Ltd held by B2Gold Corp. [BTO-TSX, BTG-NYSE American, B2G-NSX]., which together with the 30% interest held by Aurion, would result in Agnico-Eagle owning a 100% interest in the Fingold joint venture.

Agnico already owns 13.9% of Rupert on a non-diluted basis and 9.9% of Aurion on a non-diluted basis.

Rupert shares soared on the news, rising 63.6% or $4.56 to $11.73. The shares have traded in a 52-week range of $8.08 and $4.46. Aurion jumped 44.1% or 78.5 cents to $2.56. The shares previously traded in a 52-week range of $2.03 and 69 cents.

Agnico-Eagle is a Canadian gold mining company and ranks as the third largest gold producer in the world. The deal establishes Finland as a multi-asset, multi-decade regional platform within Agnico-Eagle’s portfolio, with a pathway to become an approximately 500,000-ounce annual gold production hub within the next decade. It also provides the financial, technical and on-the-ground resources to develop the highly prospective Ikkari gold project, where plans include an extension of the Ikkari open pit onto the Fingold JV area, which is expected to capture additional gold ounces in the mine plan on both sides of the property.

Agnico said the deal consolidates an approximately 2,492 square kilometer regional land position within the Central Lapland Greenstone Belt, and integrates Ikkari into the company’s established Finland platform, while delivering unique operating, development and construction synergies estimated at up to $500 million, over and above the value benefit that is expected to be realized by eliminating the property boundary constraint.

Under the terms of the Rupert transaction, each Rupert share will be exchanged for an upfront consideration of 0.0401 of a common share of Agnico-Eagle, and a contingent consideration of $3.00 in the form of a contingent value right that is payable in cash upon Rupert’s properties reaching specified milestones. The aggregate upfront consideration on a 100% fully diluted basis is valued at $2.871 billion and represents a 67% premium to the closing price of Rupert shares on the TSX on April 17, 2026.

Pursuant to the Aurion transaction, each Aurion share will be acquired for $2.60 in cash for an aggregate consideration of $481 million on a 100% fully-diluted basis. This represents a 46% premium to the closing price of Aurion shares on the TSX Venture Exchange on April 17, 2026.

As well, Agnico has agreed to acquire B2Gold’s 70% stake in the Fingold JV for US$325 million in cash. Aurion holds the remaining 30% and has waived its right of first refusal over the sale of B2Gold’s interest in the joint venture.