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Agnico Eagle Mines Ltd.
Summary
| Project: | Akasaba West | |
|---|---|---|
| Deposit: | Akasaba West | |
| Location: | Canada | |
| Commodities: | Gold-Copper | |
| Date: | 2/15/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 15-2-2018: Agnico Eagle Mines Ltd. announces a Resource Estimation report for its Akasaba West deposit at the Akasaba West project. Year-end mineral resource and ore reserve update. Toronto (February 14, 2018) – Agnico Eagle Mines Limited (NYSE:AEM, TSX:A | |
| Resources: | (Reserve, Prob.): 5.194Mt @ 0.87g/t Au, 0.49% Cu at project | |
| CP/QP: | [Resources]: Daniel Doucet (Internal) | |
| ABSTRACT: | Toronto (February 14, 2018) – Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) ("Agnico Eagle" or the "Company") today reported quarterly net income of $35.1 million, or net income of $0.15 per share for the fourth quarter of 2017. This result includes mark-tomarket adjustments and derivative losses of $1.0 million ($0.01 per share), non-recurring losses of $6.8 million ($0.03 per share) and non-cash foreign currency translation losses of $5.5 million ($0.02 per share). Excluding these items would result in adjusted net income1 of $48.4 million ($0.21 per share) for the fourth quarter of 2017.Agnico Eagle acquired the Akasaba West gold-copper deposit in January 2014. Located less than 30 kilometres from Goldex, the Akasaba West deposit is expected to create flexibility and synergies for the Company's operations in the Abitibi region by utilizing extra milling capacity at both Goldex and LaRonde, while reducing overall costs. The public hearing process was completed on Akasaba in 2017 and the project was deemed to be acceptable under certain conditions. Provincial and Federal recommendations are expected in the second half of 2018. The Company expects to startup the project in 2020. | |
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