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Agnico Eagle Mines Ltd.
Summary
| Project: | Pinos Altos | |
|---|---|---|
| Deposit: | Pinos Altos, Creston Mascota | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| 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 Pinos Altos, Creston Mascota deposit at the Pinos Altos project. Year-end update of mineral resoruces and ore reserves. Toronto (February 14, 2018) – Agnico Eagle Mines Limi | |
| Resources: | (Reserve, P+P): 16.435Mt @ 2.41g/t Au, 64.37g/t Ag at Pinos Altos | |
| 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 Southern Business operations are focused in Mexico. These operations have been the source of growing precious metals production (gold and silver), stable operating costs and strong free cash flow since 2009. The 100% owned Pinos Altos mine in northern Mexico achieved commercial production in November 2009. Production costs per tonne in the fourth quarter of 2017 increased when compared to the prior-year period due to variations in the proportions of heap leach ore to mill ore, variations in the open pit ore to underground ore and fluctuations in the waste to ore stripping ratio in the open pit mines. Production costs per ounce in the fourth quarter of 2017 increased when compared to the prior-year period due to the reasons described above and lower gold production and lower by-product revenue. | |
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