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Maple Gold Mines (OTCQB:MGMLF) +36.6% in Monday’s trading after Agnico Eagle Mines (NYSE:AEM) increased its stake in the company, acquiring more than 33.8M common shares worth ~C$2.9M from several sellers that acquired shares as part of an equity raising.
The move raised Agnico Eagle’s (AEM) holdings in Maple Gold (OTCQB:MGMLF) to ~19.9% from a nearly 12% stake previously.
Additionally, Maple Gold (OTCQB:MGMLF) said it closed a private placement of flow-through shares for ~C$4.05M in gross proceeds to help fund exploration expenses.
The company is focused on advancing its Douay and Joutel gold projects in Quebec.