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Agnico Eagle Mines Ltd.
Summary
| Project: | Canadian Malartic Mine | |
|---|---|---|
| Deposit: | Canadian Malartic Mine | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 2/15/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 15-2-2018: Agnico Eagle Mines Ltd. announces a Resource Estimation report for its Canadian Malartic Mine deposit at the Canadian Malartic Mine project. Year-end update of mineral resource and ore reserves. Toronto (February 14, 2018) – Agnico Eagle Mines | |
| Resources: | (Reserve, P+P): 90.499Mt @ 1.1g/t Au for 3.189Moz Au contained at project | |
| CP/QP: | [Resources]: Donald Gervais (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. In June 2014, Agnico Eagle and Yamana acquired all of the issued and outstanding common shares of Osisko Mining Corporation and created the Canadian Malartic General Partnership (the "Partnership"). The Partnership owns and operates the Canadian Malartic mine in northwestern Quebec through a joint management committee. Each of Agnico Eagle and Yamana has an indirect 50% ownership interest in the Partnership. All volume numbers in this section reflect the Company’s 50% interest in the Canadian Malartic mine except as noted. Production costs per tonne in the fourth quarter of 2017 slightly increased when compared to the prior-year period primarily due to the use of additional contractors, partially offset by higher throughput levels. Production costs per ounce in the fourth quarter of 2017 increased when compared to the prior-year period due the reason described above, partially offset by higher production. | |
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