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Agnico Eagle Mines Ltd.
Summary
| Project: | Kittila | |
|---|---|---|
| Deposit: | Kittila | |
| Location: | Finland | |
| 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 Kittila deposit at the Kittila project. Year-end update of mineral resources and ore reserves. Toronto (February 14, 2018) – Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) ( | |
| Resources: | (Reserve, P+P): 30.0Mt @ 4.64g/t Au for 4.479Moz Au contained 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's Kittila mine in Finland is the largest primary gold producer in Europe and hosts the Company's largest mineral reserves. Exploration activities continue to expand the mineral reserves and mineral resources and the Company has approved an expansion to add an underground shaft and increase expected mill throughput by 25 percent to 2.0 mtpa. Production costs per tonne in the fourth quarter of 2017 increased when compared to the prior-year period due to lower throughput levels and the timing of unsold inventory. Production costs per ounce in the fourth quarter of 2017 increased when compared to the prior-year period due to lower production and the reasons described above. Minesite costs per tonne in the fourth quarter of 2017 were essentially the same when compared to the prior-year period. Total cash costs per ounce in the fourth quarter of 2017 increased when compared to the prior-year period due to lower production. | |
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