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Agnico Eagle Mines Ltd.
Summary
| Project: | Hammond Reef | |
|---|---|---|
| Deposit: | Hammond Reef | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 2/15/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine in Care & Maintenance | |
| Report details: | 15-2-2019: Agnico Eagle Mines Ltd. announces a Resource Estimation report for its Hammond Reef deposit at the Hammond Reef project. Annual statement of mineral resources and ore reserves at project. Toronto (February 14, 2019) – Agnico Eagle Mines Limited | |
| Resources: | ||
| CP/QP: | [Resources]: Daniel Doucet (Internal) | |
| ABSTRACT: | Toronto (February 14, 2019) – Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) ("Agnico Eagle" or the "Company") today reported quarterly net loss of $393.7 million, or a loss of $1.68 per share, for the fourth quarter of 2018. This result includes impairment losses of $389.7 million ($1.66 per share), non-cash foreign currency translation losses on deferred tax liabilities and non-recurring tax adjustments of $14.4 million ($0.06 per share), losses due to change of reclamation estimates relating to closed sites (net of tax) of $12.4 million ($0.05 per share), derivative losses on financial instruments, mark-to-market and other adjustments of $8.3 million ($0.04 per share) and non-cash foreign currency translation losses of $2.7 million ($0.01 per share). Excluding these items would result in adjusted net income1 of $33.8 million or $0.14 per share for the fourth quarter of 2018. For the fourth quarter of 2017, the Company reported net income of $37.5 million or $0.16 per share. The impairment losses of $389.7 million ($1.66 per share) include an impairment of goodwill relating to the Canadian Malartic mine of $250.0 million ($1.07 per share), an asset impairment relating to the El Barqueno project of $100.7 million ($0.43 per share) and an impairment of goodwill relating to the La India mine of $39.0 million ($0.16 per share). Included in the fourth quarter of 2018 net income, and not adjusted above, is non-cash stock option expense of $3.9 million ($0.02 per share) | |
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