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Agnico Eagle Mines Ltd.
Summary
| Project: | Meadowbank | |
|---|---|---|
| Deposit: | Meadowbank | |
| 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 Meadowbank deposit at the Meadowbank project. Year-end mineral resource and ore reserve update. Toronto (February 14, 2018) – Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) | |
| Resources: | (Reserve, P+P): 4.708Mt @ 2.28g/t Au for 345koz 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. The 100% owned Meadowbank mine in Nunavut, northern Canada, achieved commercial production in March 2010. Production costs per tonne in the fourth quarter of 2017 increased when compared to the prior-year period due to lower throughput 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 increased when compared to the prior-year period due to the reasons described above. Total cash 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. Production was lower in the fourth quarter of 2017 when compared to the prior-year period as a result of lower throughput, lower grades and slightly lower recoveries. | |
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