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Agnico Eagle Mines Ltd.
Summary
| Project: | LaRonde | |
|---|---|---|
| Deposit: | LaRonde, LaRonde Zone 5, Lapa, Ellison, Zulapa | |
| Location: | Canada | |
| Commodities: | Gold-Silver-Copper-Zinc | |
| Date: | 2/15/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 15-2-2019: Agnico Eagle Mines Ltd. announces a Resource Estimation report for its LaRonde, LaRonde Zone 5, Lapa, Ellison, Zulapa deposit at the LaRonde project. Annual statement of mineral resources and ore reserves at project. Toronto (February 14, 2019) | |
| 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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