Fresnillo is the FTSE 100’s best-performing stock so far in 2025

FTSE mining giant Fresnillo is set to break into Canada after it agreed terms to acquire gold exploration company Gold Probe Inc.

The Mexico focused mine operator will purchase Probe for CAD$780m (£423.7m) including access to its Val d’OR mining camp in Quebec.

Under the terms of the deal, Fresnillo will acquire 100 per cent of all issued and outstanding shares, with Probe shareholders receiving CAD$3.65 per share.

Fresnillo expects to finance the acquisition with existing cash resources, which stood at $1.8bn as of the end of June.

The deal is anticipated to be completed in the first financial quarter of 2026 subject to majority shareholder approval.

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