VANCOUVER – Agnico Eagle Mines Ltd. has agreed to sell its majority stake in the Barsele gold project in Sweden to Goldsky Resources Corp., which holds the minority position.
Under the agreement that will see Goldsky take full ownership of the project, the junior company has agreed to pay US$20 million in cash in addition to 75,509,577 Goldsky common shares, which were valued at C$2.64 per share.
It will also grant Agnico Eagle a two per cent net smelter return royalty on the project and assume Agnico’s obligations under an existing two per cent net smelter return royalty owed to Orex Minerals Inc.
Goldsky may repurchase the Agnico Eagle royalty for US$50 million at any time prior to two years following the achievement of commercial production, while the Orex royalty may be repurchased for US$5 million at any time.
The deal will see Agnico Eagle increase its stake in Goldsky to about 32.5 per cent from 4.1 per cent.
Agnico Eagle, which attributed the deal to its ongoing portfolio optimization, says the Barsele project will benefit from being Goldsky’s primary focus, while the senior gold miner retains exposure to future upside.
This report by The Canadian Press was first published Jan. 28, 2026.
Companies in this story: (TSX:AEM, TSX:GSKR)
