OTTAWA (dpa-AFX) - Agnico Eagle Mines Limited (AEM) announced on Monday that it has sold its stake in Royal Road Minerals Limited.
The company sold 47.94 million shares of Royal Road on the Toronto Stock Exchange at C$0.115 per share, generating total proceeds of C$5.51 million.
Agnico Eagle said it completed the sale to realize its investment and currently has no plans to acquire additional shares or securities of Royal Road.
'Agnico Eagle focuses on its high-quality internal growth projects and complements its pipeline of projects with a strategy of acquiring strategic positions in prospective opportunities with high geological potential. The company reviews its investments against its strategic priorities on a periodic basis and may, from time to time, divest certain holdings,' the company said in a statement.
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