AEM Factsheet Q2 2009
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AEM Factsheet Q2 2009

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    AEM Factsheet Q2 2009 AEM Factsheet Q2 2009 Document Transcript

    • AGNICO-EAGLE MINES LIMITED INVESTOR FACT SHEET - JULY 2009 With its emphasis on quality, an exceptional record of creating shareholder value, and one of the most robust growth profiles in the industry, Agnico-Eagle Mines Limited has emerged as the gold stock of choice. Pinos Altos, Mexico GOLD RESERVES (Millions of Ounces) 20-21 CORPORATE STRATEGY & Q2 HIGHLIGHTS MAINTAIN FOCUS ON PER SHARE VALUE CREATION • Gold reserves per share among highest in industry, up almost 18.1 5 times over past 11 years. • Increase gold production - Record gold production in Q2 of 119,053 oz as Lapa and • Targeting additional reserve conversion at Kittila, 16.7 Pinos Altos, Goldex and Meadowbank Kittila achieve commercial production Meadowbank - Four internal expansions expected to contribute to continued • Uniquely positioned with potential for up 12.5 growth post-2010 to four 5 million ounce gold deposits • Grow gold reserves 10.4 Pinos Altos - Record reserves of 18.1 million ounces - Four of six deposits may ultimately exceed 5 million oz 7.9 7.9 Kittila • Acquire small, think big - Since being acquired, gold reserves and resources up 89% Lapa in Finland, Mexico and Nunavut Goldex • Be a low-cost leader 4.0 3.3 3.3 - Expect to remain in the lowest quartile of total cash cost 3.0 per ounce long term 1.3 LaRonde • Maintain a solid financial profile - Expanded credit facilities to $900M - Significant free cash flow expected starting 2010 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2010 EST. Agnico-Eagle has the most INDUSTRY LEADING1 GOLD PRODUCTION GROWTH ESTIMATES dramatic growth profile of any senior or intermediate gold INCLUDES GOLDEX AND CRESTON MASCOTA EXPANSIONS. MEADOWBANK AND producer, with gold production KITTILA EXPANSIONS TO COME poised to double in 2009 and Payable Gold Production Total Cash Costs double again in 2010. (ounces) ($/oz)* LaRonde Goldex Lapa Kittila Pinos Altos Meadowbank Weighted Average 2009 PRODUCTION FORECAST 1,800,000 350 Total Cash Costs (weighted average) Payable production: Au (ounces) 550,000 to 575,000 1,600,000 300 Ag (ounces in thousands) 4,600 1,400,000 Zn (tonnes) 63,000 250 Cu (tonnes) 6,800 1,200,000 Total cash costs / oz (US$) $ 340* 200 1,000,000 * Assumptions for 2009 include Ag $11/oz, Zn $1,300/t, Cu $4,000/t, C$/US$ of 1.22.and US$/Euro of 1.30 800,000 150 KEY TRADING DATA (as of July 29, 2009) 600,000 100 AEM AEM-T 400,000 Last price US$ 52.34 CAD$ 56.85 200,000 50 50-day moving average US$ 53.82 CAD$ 61.08 52-week high US$ 67.39 CAD$ 73.71 0 0 52-week low US$ 20.87 CAD$ 26.60 2008A 2009E 2010E 2011E 2012E 2013E 2014E 3 month average trading volume* 3,077,009 1 For an intermediate or senior gold producer 768,249 * Total cash costs per ounce for all years post-2009 were calculated using the following metal prices and exchange rates (royalties included where applicable): $10.00/oz Ag; Market capitalization (US$) approx. $ 9 billion $1,200/t Zn; $3,700/t Cu; C$/US$ of 1.22; US$/Euro of 1.28. See Slide 5 for 2009 assumptions. *04/29/09 to 07/29/09 LaRonde Goldex Kittila Lapa Pinos Altos Meadowbank
    • LaRonde Goldex Kittila Lapa Pinos Altos Meadowbank QUEBEC, CANADA QUEBEC, CANADA KITTILA, FINLAND QUEBEC, CANADA CHIHUAHUA, MEXICO NUNAVUT, CANADA The LaRonde mine is Commercial production Commercial production Commercial production Poured first heap leach Open pit production is a consistent engine achieved in 2008 and acheived May 1, 2009. acheived May 1, 2009. gold in Q2 2009. expected to begin in Q1 of earnings and cash operating at design Gold production and First gold poured May Production from the mill 2010, with underground flow with mine life parameters. recoveries progressing 7, 2009 - on time, on expected in Q3 2009. operations also being anticipated to extend as expected. budget. Exploration New mine at Creston investigated. through 2022. upside at depth and to Mascota approved for the East. construction. KEY FINANCIAL STATISTICS (as of June 30, 2009) SUSTAINABLE DEVELOPMENT Cash and cash equivalents (US$ millions) $ 173.9 Committed to creating economic prosperity Long-term debt (US$ millions) $ 485.0 for our stakeholders in a safe, socially and Available credit facilities (US$ millions) $ 394.9 environmentally responsible manner. Common shares outstanding (millions) 156.0 Common shares fully diluted (millions) 170.8 Official opening of the all-weather road, Meadowbank Latest annual dividend 0.18 per share All amounts are in US$, unless otherwise indicated Q2 2009 Q2 2008 YTD 2009 FY 2008 Revenues from mining operations (millions) $ 138.5 $ 88.0 $ 249.2 $ 211.7 Earnings (millions) $ 1.2 $ 8.3 $ 55.6 $ 37.3 Earnings per share (fully diluted) $ 0.01 $ 0.06 $ 0.36 $ 0.26 Cash provided by operating activities (millions) $ 26.4 $ 92.8 $ 75.2 $ 146.6 A solid financial position, low-cost structure, well-funded • Won the 2008 Desjardins Sustainable Development Award growth projects in regions of low political risk, and a focused, • LaRonde mine won its fourth consecutive provincial mine rescue championship consistent strategy put Agnico-Eagle in a strong position to • Named Nunavut Mining Company of the Year at the 2009 Nunavut continue creating exceptional per share value. Mining Symposium • Manitou-Goldex Rehabilitation Project - established program with the Quebec government to rehabilitate an orphanedacid-generating tailings site using neutralizing tailings from Goldex • AEM is the first foreign mining company to have received ESR certification as a socially responsible company from the Centro Mexicano para la Filantropia SHAREHOLDER INFORMATION Monitoring noise levels, Goldex LISTINGS CORPORATE HEAD OFFICE The New York Stock Exchange and AGNICO-EAGLE MINES LIMITED the Toronto Stock Exchange 145 King Street East, Suite 400 Stock Symbol: AEM Toronto, Ontario TSX Warrant Symbol: AEM.WT.U Canada M5C 2Y7 Phone: (416) 947-1212 TRANSFER AGENT Website: agnico-eagle.com COMPUTERSHARE TRUST COMPANY OF CANADA 1-800-564-6253 Validating predicted model of fish population, Monitoring water quality Meadowbank FOWARD LOOKING STATEMENTS The information in this document has been prepared as at July 30, 2009. Certain statements contained in this document constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward looking information under the provisions of Canadian provincial securities laws. When used in this document, the words “anticipate”, “expect”, “estimate”, “forecast”, “will”, “planned”, and similar expressions are intended to identify forward-looking statements or information. Such statements include without limitation: statements regarding timing and amounts of capital expenditures and other assumptions; estimates of future reserves, resources, mineral production and sales; estimates of mine life; estimates of future internal rates of return, mining costs, cash costs, minesite costs and other expenses; estimates of future capital expenditures and other cash needs, and expectations as to the funding thereof; statements and information as to the projected development of certain ore deposits, including estimates of exploration, development and production and other capital costs, and estimates of the timing of such exploration, development and production or decisions with respect to such exploration, development and production; estimates of reserves and resources, and statements and information regarding anticipated future exploration; the anticipated timing of events with respect to the Company’s minesites and statements and information regarding the sufficiency of the Company’s cash resources. Such statements and information reflect the Company’s views as at the date of this document and are subject to certain risks, uncertainties and assumptions, and undue reliance should not be placed on such statements and information. Many factors, known and unknown could cause the actual results to be materially different from those expressed or implied by such forward looking statements and information. Such risks include, but are not limited to: the volatility of prices of gold and other metals; uncertainty of mineral reserves, mineral resources, mineral grades and mineral recovery estimates; uncertainty of future production, capital expenditures, and other costs; currency fluctuations; financing of additional capital requirements; cost of exploration and development programs; mining risks; risks associated with foreign operations; governmental and environmental regulation; the volatility of the Company’s stock price; and risks associated with the Company’s byproduct metal derivative strategies. For a more detailed discussion of such risks and other factors that may affect the Company’s ability to achieve the expectations set forth in the forward-looking statements contained in this document, see the Company’s Annual Report on Form 20-F for the year ended December 31, 2008, as well as the Company’s other filings with the Canadian Securities Administrators and the U.S. Securities and Exchange Commission. The Company does not intend, and does not assume any obligation, to update these forward-looking statements and information. Marc Legault, a Qualified Person and the Company’s Vice-President, Project Development, reviewed the technical information disclosed herein. For a detailed breakdown of the Company’s reserve and resource position see the February 18, 2009 press release on the Company’s website. This press release also lists the Qualified Persons for each project.