In order to cut administrative costs,
“This will help streamline Agnico’s corporate structure and give the company a primary vehicle for its exploration program in North America,” says Sean Boyd, Agnico’s president and chief executive officer.
Agnico and its affiliate,
Sudbury Contact and Silver Century both conduct exploration in northern Ontario and Quebec. Sudbury Contact owns, or has under option, 18 gold and diamond properties, while Silver Century has a stake in 16 precious and base metal properties.
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