TORONTO (miningweekly.com) – Gold-miner Agnico-Eagle Mines will issue 900 000 new shares, at $38,00 apiece, to fund the acquisition of surface rights at its Pinos Altos project, in Mexico, and advance royalty payments on the development of the mine.

The shares will be issued on or about December 19, the company said.

Toronto-based Agnico-Eagle expects to double its gold production next year, to 590 000 oz next year, increasing to 1,2-million ounces in 2010, as new mines come onstream.

The Pinos Altos mine is scheduled to begin production in the second half of 2009, the firm said last week.

Agnico-Eagle shares slid 1,07% on Tuesday morning, to C$51,59 a share by 10:53 in Toronto.

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