Agnico Eagle Mines Ltd. AEM-T says it has sold its 11.3 per cent stake in Orla Mining OLA-T .

The gold miner says it sold the shares to buyers in Canada, the United States and elsewhere for a price of $14.75 per share for a total of $560.5-million.

Agnico Eagle was an early-stage investor in Orla and has been a shareholder since it was established in 2017.

The company has since grown into an established mid-tier producer.

Agnico Eagle chief executive Ammar Al-Joundi says the investment in Orla has been mutually beneficial for both companies.

With Orla’s success in evolving into an intermediate producer and in the context of the current gold market, Al-Joundi says now is the right time to sell Agnico Eagle’s stake. Please enable JavaScript to view this content.

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