Barsele Minerals and Agnico Eagle terminate LOI
TSX-V-listed Barsele Minerals has announced the termination of a letter of intent (LOI) to acquire Agnico-Eagle’s 55% interest in the Barsele project, in Sweden.
The company explains that the current market conditions have made it difficult to meet the requirements of the LOI.
Barsele CEO Gary Cope says both companies are disappointed that a transaction was not possible at this time, and states that the joint venture with Agnico-Eagle will continue.
Barsele remains excited about the potential of the Barsele project and will continue to work with Agnico Eagle to explore mutually beneficial ways to advance and unlock the value of the project.
The companies entered into the nonbinding LOI in May this year.
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