Agnico Plans 14.9% Scout Stake, Idaho Earn-In

Agnico Eagle Mines has agreed to invest about US$14.8 million in Scout Discoveries for a 14.9% fully diluted stake, as part of a combined US$25 million private placement that will also raise The Electrum Group’s ownership to 30%. The deal gives Agnico exposure to Scout’s Idaho exploration portfolio and includes earn-in agreements for the Elk City and Muldoon projects. Agnico can earn an initial 51% interest in Elk City by funding US$20 million of exploration over five years and potentially increase its stake to 70% through an additional US$40 million commitment; similar terms at Muldoon could require up to US$30 million in total spending. Scout is also consolidating full ownership of seven Idaho projects through an arrangement with Elemental Royalty, issuing shares in exchange for the interests and eliminating certain future cash payments and work commitments. The transactions remain subject to customary closing conditions and are intended to fund expanded exploration across Scout’s Idaho assets.