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Evolving Gold in $76-Mln Joint Venture With Agnico-Eagle to Develop Rattlesnake Hills

Evolving Gold Corp. (EVG.V) will likely see some upside support when trading later resumes today following the company's announcment it is forming a $76-million joint venture with an Agnico-Eagle Mines Ltd. (AEM.TO) subsidiary on its Rattlesnake Hills project in Wyoming.

Evolving Gold shares last traded at $0.77, up $0.02, each just before a 12:48 p.m. trading halt. Agnico-Eagle shares are ahead nearly 1% at $61.14 each.

Agnico-Eagle can earn up to a 70% stake in the Rattlesnake Hills project by making $12 million in cash payments to Evolving Gold and buying $23 million of the junior miner's stock. Agnico-Eagle also is required to spend at least $41 million on exploration/development work on the project.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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