In an apparent reversal of strategy, Agnico-Eagle (AEM -1.3%) Mines is pulling capital out of...

|About: Agnico Eagle Mines Limited (AEM)|By:, SA News Editor

In an apparent reversal of strategy, Agnico-Eagle (AEM -1.3%) Mines is pulling capital out of Ontario’s Red Lake gold camp. Rubicon Minerals (RBY -7.3%), a junior miner in Red Lake, says AEM has sold off a "significant portion" of its RBY shares, which would explain why 17M-plus RBY shares changed hands on Friday.