Goldsky Resources has closed its acquisition of Agnico Eagle’s 55% interest in the Barsele gold project in northern Sweden, becoming the sole owner of a 2.15 million ounce resource and immediately planning what the company describes as one of the largest drilling campaigns ever undertaken across the licence.
As agreed when the transaction was announced in January, Agnico received $20 million in cash, approximately 75.51 million Goldsky shares valued at C$2.64 each, and a 2% net smelter return royalty. Royalty obligations to Orex Minerals were also transferred to Goldsky as part of the deal. Agnico has emerged as an approximately 32% shareholder in Goldsky, holding nearly 83 million shares and holding an investor rights agreement for top-up participation.
Goldsky CEO Russell Bradford described the closing as marking “an exciting new chapter” for the company. The Barsele project, located in Västerbottens Län approximately 600 kilometres north of Stockholm, has been explored by Agnico for a decade, with the majority of the existing 2.15 million ounce resource sitting in the inferred category — leaving significant potential for resource growth through systematic drilling. The company has budgeted $25 million for a 2026 drilling programme at the property.
Goldsky shares were 2.5% higher by midday Thursday at C$3.25, giving the company a market capitalisation of approximately C$598 million ($421.7 million). In addition to Barsele, the Toronto-based junior holds the Paubäcken and Storjuktan projects in Sweden’s historically defined Gold Line belt, as well as three projects in Finland including the Rajapalot property in Lapland.
