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Agnico Eagle Mines Ltd.
Summary
| Project: | Kittila | |
|---|---|---|
| Deposit: | Sisar, Roura-Rimpi | |
| Location: | Finland | |
| Commodities: | Gold | |
| Date: | 7/25/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 25-7-2019: Agnico Eagle Mines Ltd. announces an Exploration/Drilling Update report for its Sisar, Roura-Rimpi deposit at the Kittila project. Drilling results incl. 23.8m @ 7.4g/t Au from 158.6m. Toronto (July 24, 2019) – Agnico Eagle Mines Limited (NYSE: | |
| Resources: | ||
| CP/QP: | [Overall Report]: Francis Brunet (Internal) | |
| ABSTRACT: | Toronto (July 24, 2019) – Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) ("Agnico Eagle" or the "Company") today reported quarterly net income of $27.8 million, or $0.12 per share, for the second quarter of 2019. This result includes non-cash foreign currency translation gains on deferred tax liabilities of $5.9 million ($0.03 per share), derivative gains on financial instruments, mark-to-market and other adjustments of $3.3 million ($0.01 per share) and non-cash foreign currency translation losses of $4.1 million ($0.02 per share). Excluding these items would result in adjusted net income1 of $22.7 million or $0.10 per share for the second quarter of 2019. In the second quarter of 2018, the Company reported net income of $5.0 million or $0.02 per share. Included in the second quarter of 2019 net income, and not adjusted above, is non-cash stock option expense of $3.3 million ($0.01 per share). In the first six months of 2019, the Company reported net income of $64.8 million, or $0.28 per share. This compares with the first six months of 2018, when net income was $49.9 million, or $0.21 per share. The increase in net income during the second quarter of 2019 compared to the prior year period was mainly due to lower amortization, lower income and mining taxes and higher realized gold prices, partially offset by lower gold sales volume (which does not include precommercial production ounces at Meliadine and Amaruq). | |
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