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Agnico Eagle Mines Ltd.
Summary
| Project: | Meliadine | |
|---|---|---|
| Deposit: | Meliadine | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 2/15/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 15-2-2018: Agnico Eagle Mines Ltd. announces a Resource Estimation report for its Meliadine deposit at the Meliadine project. Year-end update of mineral resources and ore reserves. Toronto (February 14, 2018) – Agnico Eagle Mines Limited (NYSE:AEM, TSX:AE | |
| Resources: | (Reserve, P+P): 16.058Mt @ 7.12g/t Au for 3.677Moz 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."In 2017, we had another strong year of operating performance exceeding our production forecast and beating our cost guidance for the sixth consecutive year. We set a new annual production record while recording the fewest number of lost time accidents, and we also increased our gold reserves", said Sean Boyd, Agnico Eagle’s Chief Executive Officer. "Furthermore, we continue to make excellent progress on our Nunavut development projects which has allowed us to advance the expected start-up of Meliadine and increase our production guidance for 2018 and 2019. With projected production on track to reach approximately 2.0 million ounces with lower unit costs in 2020, the Company will be focusing on increasing its reserve base and advancing its development pipeline to enhance the production profile and grow free cash flow", added Mr. Boyd. | |
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