AEM September 2012 Corporate Update


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AEM September 2012 Corporate Update

  1. 1. AGNICO-EAGLEAGNICO EAGLE MINES LIMITEDCorporate Update p pSeptember 2012
  2. 2. Forward Looking StatementsThe information in this document has been prepared as at September 5, 2012. 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 lookinginformation 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 estimate forecast will planned forward-looking information.Such statements include without limitation: statements regarding timing and amounts of capital expenditures and other assumptions;estimates of future reserves, resources, mineral production, optimization efforts and sales; estimates of mine life; estimates of futureinternal rates of return, mining costs, cash costs, minesite costs and other expenses; estimates of future capital expenditures and othercash 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 exploration,resources, and statements and information regarding anticipated future exploration; the anticipated timing of events with respect to theCompanys mine sites and statements and information regarding the sufficiency of the Companys cash resources. Such statements andinformation reflect the Companys views as at the date of this document and are subject to certain risks, uncertainties and assumptions, andundue reliance should not be placed on such statements and information. Many factors, known and unknown could cause the actual resultsto be materially different from those expressed or implied by such forward looking statements and information. Such risks include, but arenot limited to: the volatility of prices of gold and other metals; uncertainty of mineral reserves, mineral resources, mineral grades and y p g ; y , , gmineral recovery estimates; uncertainty of future production, capital expenditures, and other costs; currency fluctuations; financing ofadditional capital requirements; cost of exploration and development programs; mining risks; community protests; risks associated withforeign operations; governmental and environmental regulation; the volatility of the Companys stock price; and risks associated with theCompanys byproduct metal derivative strategies. For a more detailed discussion of such risks and other factors that may affect theCompany’s ability to achieve the expectations set forth in the forward-looking statements contained in this document, see the CompanysAnnual Report on Form 20-F for the year ended December 31, 2011, as well as the Companys other filings with the Canadian SecuritiesAdministrators and th U S SAd i i t t d the U.S. Securities and E h iti d Exchange CCommission. Th C i i The Company d does not i t d and d t intend, d does not assume any obligation, t t bli ti toupdate these forward-looking statements and information. Marc Legault, a Qualified Person and the Company’s Senior Vice-President,Project Evaluations, reviewed the technical information disclosed herein. For a detailed breakdown of the Company’s reserve and resourceposition see the February 15, 2012 press release on the Company’s website. That press release also lists the Qualified Persons for eachproject. 2
  3. 3. Notes To InvestorsNote Regarding The Use Of Non-GAAP Financial MeasuresThis document presents estimates of future "total cash cost per ounce" and "minesite cost per tonne" that are not recognized measuresunder United States generally accepted accounting principles ("US GAAP") This data may not be comparable to data presented by other ( US GAAP ).gold producers. These future estimates are based upon the total cash costs per ounce and minesite costs per tonne that the Companyexpects to incur to mine gold at the applicable projects and do not include production costs attributable to accretion expense and otherasset retirement costs, which will vary over time as each project is developed and mined. It is therefore not practicable to reconcile theseforward-looking non-GAAP financial measures to the most comparable GAAP measure. A reconciliation of the Companys total cash costper ounce and minesite cost per tonne to the most comparable financial measures calculated and presented in accordance with US GAAPfor the Companys historical results of operations is set forth in the notes to the financial statements included in the Companys Annual p y p p yInformation Form and Annual Report on Form 20-F, for the year ended December 31, 2011, as well as the Companys other filings with theCanadian Securities Administrators and the SEC.Note Regarding Production GuidanceThe gold production guidance is based on the Company’s mineral reserves but includes contingencies and assumes metal prices andforeignf i exchange rates th t are diff h t that different f t from th those used i th reserve estimates. Th d in the ti t These f t factors and others mean th t th gold production d th that the ld d tiguidance presented in this disclosure does not reconcile exactly with the production models used to support these mineral reserves. 3
  4. 4. AEM Today Million ounce gold producer with 55 years of operating history Focused on delivering total shareholder return Lower risk:  Mature operations  Low political risk jurisdictions  Measured production growth  Free cash flow generator Committed to dividends - 30 consecutive years 4
  5. 5. AEM StrategyDeliver meaningful per share growth i operating and fiD li i f l h th in ti d financial metrics i l ti Grow gold reserves and production in mining friendly regions Be a low-cost leader  G l is t move b k i t th i d t ’ l Goal i to back into the industry’s lowest cost quartile t t til Acquire small, think big  Buy early, add value through exploration and mine building Maintain a solid financial position  $1.2 B of available bank lines  Only 171 M shares outstanding after 55 years of operating history 5
  6. 6. Financial Results Strong earnings and cash flow continue to strengthen balance sheet Investment grade credit rating New long-term bond adds to financial flexibility  Average tenure: 11 years @ 4 94% 4.94% YTD 2012 YTD 2012 Total Operating Margin - $498MGold 520 Lapa(ounces in thousands) 11% LarondeRevenues from 19%mining operations $932(millions) Kittila 16%Net income $122(millions)Net income per share $0.71(basic)Cash provided by operating Meadowbankactivities $391 24% Pinos Altos(millions) 30% 6
  7. 7. Generating Net Free Cash Flow Cash flow t fund dividend and growth plans C h fl to f d di id d d th l Capital Expenditures (USD $000s) $1,200,000 Approximate Average EBITDA* $1,000,000 $800,000 Illustrative Ongoing $600,000 Re-Investment $400,000 $200,000 $0 2007A 2008A 2009A 2010A 2011A 2012E 2013 2014 Actual Estimate* Approximate average EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization)  estimate  for illustrative purposes using $1700/oz gold, $32/oz silver, $2000/t zinc, C$/US$ 1.00, 1.35USD/€ 7
  8. 8. Operations and Projects
  9. 9. LaRondeTransition to lower mine continues t be challengingT iti t l i ti to b h ll i YTD gold production of 83,487 P&P GOLD RESERVES (million oz) 4.7 oz at total cash costs of $489 per ounce AVERAGE GOLD RESERVE GRADE (g/t) 4.4 Q2 gold grade 2.4 g/t vs. 1.6 g/t Indicated resource (million oz) 0.4 in Q2’11 Inferred resource (million oz) 1.3 Ramp up slower than expected due to heat, congestion and Estimated LOM (years) 15 seismicity 2012 exploration budget $1M V l of ore per t Value f tonne (LaRonde & regional) approximately 50% higher over See AEM Feb 15, 2012 press release for detailed breakdown of reserves and resources. life of mine versus 2011 at same metals prices 9
  10. 10. LapaGood tG d tonnage and cost control d t t l Strong Q2 gold production of P&P GOLD RESERVES (million oz) 0.5 28,157 oz at total cash costs per ounce of $ $634 AVERAGE GOLD RESERVE GRADE (g/t) 6.5 Anticipated life of mine Indicated resource (million oz) 0.3 extended through 2015 Inferred resource (million oz) 0.1 Underground exploration drift to east will provide access to Est. LOM (years) 4 drill targets that could extend mine life further 2012 exploration budget $5M See AEM Feb 15, 2012 press release for detailed breakdown of reserves and resources. 10
  11. 11. KittilaLarge lL long-life gold d lif ld deposit continues t grow it ti to YTD gold production of 81,986oz P&P GOLD RESERVES (million oz) 5.2 at total cash costs of $615 per ounce AVERAGE GOLD RESERVE GRADE (g/t) 4.7 Initial 25% expansion study Indicated resource (million oz) 1.0 expected near year end Inferred resource (million oz) 1.2 Good exploration results at Rimpi suggest potential for Estimated LOM (years) 32 ongoing phased expansions 2012 exploration budget $16M See AEM Feb 15, 2012 press release for detailed breakdown of reserves and resources. 2006 2007 – 2008 2012 Focus Area 2009 – 2010 2011 11
  12. 12. Kittila – AEM’s Largest Gold Deposit Still open for exploration at depth and to the North 2011 exploration expanded reserves and resources in Roura and Rimpi trends $16M in exploration, up to 12 drills in 2012 exploration 2012 Focus Area 12
  13. 13. Mexico – (Pinos Altos & Creston Mascota)Largest cash flL t h flow generator and growing production b t d i d ti base Record production in Q2 of P&P GOLD RESERVES (million oz) 3.1 63,356 oz at total cash costs per ounce of $ $358 AVERAGE GOLD RESERVE GRADE (g/t) 2.1 H1 mine operating margin - Indicated resource (million oz) 0.8 $149 M Inferred resource (million oz) 0.8 Drilling program focused on satellite deposits Estimated LOM (years) 18 2012 exploration budget $6M See AEM Feb 15, 2012 press release for detailed breakdown of reserves and resources. $100M Cash Operating Profit $80M $60M $40M $20M $0M Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 13
  14. 14. La IndiaCommercial P d ti EC i l Production Expected i H2 2014 t d in P&P GOLD RESERVES (million oz) 0.9 (45 M tonnes @ 0.7g/t) AVERAGE GOLD RESERVE GRADE ( /t) (g/t) 0.7 07 Indicated resource (million oz) 0.4 (27 M tonnes @ 0.5g/t) Inferred resource (million oz) 1.1 (103 M tonnes @ 0.3g/t) Est. LOM (years) 8 Note: La India reserves and resource estimate is as of June 30, 2012, disclosed in AEM  September 4, 2012 press release. Annual gold production of approx. 90 koz @ average total cash costs of approx. $500/oz Open pit, heap leach mine, with stripping ratio of 1:1 pp g Total construction capital costs of $158M After tax internal rate of return – 31%* After-tax * Assumes $1379/oz gold, $26.49/oz silver, 13.00 MXP per USD 14
  15. 15. Meadowbank New l N lower risk mine plan hitti t i k i l hitting targets t  Record gold production in Q2 of P&P GOLD RESERVES (million oz) 2.2 98,403 oz at total cash costs per AVERAGE GOLD RESERVE GRADE (g/t) G GO S G 2.8 ounce of $804; Indicated resource (million oz) 1.3  H1 operating margin of $121M Inferred resource (million oz) 0.5  Focus has shifted to optimization Est. LOM (years) 6 and extending mine life 2012 exploration budget $7M See AEM Feb 15, 2012 press release for detailed breakdown of reserves and resources.Daily Throughput & Cash Operating Profit10,000tpd $80M $70M 9,000tpd $60M 8,000tpd $50M 7,000tpd $40M $30M 6,000tpd $20M 5,000tpd , p $10M 4,000tpd $0M Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Daily Throughput (t/d) Cash Operating Profit 15
  16. 16. MeliadinePermitting and road construction underwayP itti d d t ti d Updated feasibility study expected P&P GOLD RESERVES (million oz) 2.9 in late 2013 AVERAGE GOLD RESERVE GRADE (g/t) 7.2 Exploration success at Wesmeg, Normeg improving open pit and Indicated resource (million oz) 1.7 underground production scenarios Inferred resource (million oz) 2.4 Recent exploration results at Pump, F Zone and Wesmeg 2012 exploration budget $30M expected to add meaningful See AEM Feb 15, 2012 press release for detailed breakdown of reserves and resources. reserve and resource ounces at year-end 16
  17. 17. Meliadine Project – Local Geology MapFastestF t t growing deposit with multiple hi h i d it ith lti l high-grade zones d Exploration target areas 17
  18. 18. Goldex – Commercial Production Expected in Q2 2014GEZ remains suspended i d d M & E satellite zones have been Measured & Indicated Gold Resource 2.1 approved for construction (million oz) following extensive review Average Measured & Indicated Gold 1.8 Resource Grade (g/t) Preliminary Economic Inferred resource (million oz) 1.6 Assessment parameters for Est. LOM (years) (y ) 4 M & E zones: ones 2012 exploration budget $18M See AEM Feb 15, 2012 press release for detailed breakdown of reserves and resources.Daily Throughput 5,100 tpdGold Grade 1.5 g/tLOM Gold Prod’n to 2017 300,000 ozMinesite Cost C$41 per tonneTotal Cash Costs $900 per ounceLife of Mine 4 yearsNet Free Cash Flow $70 million 18
  19. 19. Sound Business Continues To DeliverNo hN change in strategy or f i t t focus AEM is among industry leaders in p share p g y per production, reserves, , , cash flows and dividends Meaningful near-term production growth driven by LaRonde, Meadowbank, La India and Goldex, with manageable, fully funded capex Solid achievable production and cost guidance Solid, Expecting growth in reserves through exploration of existing assets Business generating strong cash flows in regions of low political risk  Allocated to dividends, exploration and reinvesting in our core assets 19
  20. 20. Appendix 20
  21. 21. Operating Metrics LaRonde - Ore milled (000 tonnes) LaRonde LaRonde - Minesite costs per tonne (C$)7,500tpd $140/t7,000tpd $120/t6,500tpd $100/t6,000tpd $80/t5,500tpd $60/t5,000tpd $40/t4,500tpd $20/t4,000tpd $0/t Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Lapa - Ore milled (000 tonnes) Lapa Lapa - Minesite costs per tonne (C$)2,000tpd $170/t1,800tpd $150/t1,600tpd1,400tpd $130/t1,200tpd1,000tpd $110/t 800tpd $90/t 600tpd 400tpd $70/t 200tpd 0tpd p $50/t Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 21
  22. 22. Operating Metrics Kittila - Ore milled(000 tonnes) Kittila Kittila - Minesite costs per tonne (EUR)3,500tpd €85/t3,000tpd €80/t €75/t2,500tpd €70/t2,000tpd €65/t1,500tpd €60/t €55/t1,000tpd €50/t 500tpd €45/t 0tpd €40/t Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Pinos Altos Meadowbank6,000tpd $60/t 12,000tpd $140/t5,000tpd $50/t 10,000tpd $120/t $100/t4,000tpd $40/t 8,000tpd $80/t3,000tpd $30/t 6,000tpd $60/t2,000tpd $20/t 4,000tpd $40/t1,000tpd $10/t 2,000tpd $20/t 0tpd $0/t 0tpd $0/t Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Pinos Altos - Ore milled (000 tonnes) Meadowbank - Ore milled (000 tonnes) Pinos Altos - Minesite costs per tonne (USD$) Meadowbank - Minesite costs per tonne (C$) 22
  23. 23. Gold and Silver Reserves and ResourcesDecember 31, 2011 Tonnes Gold Gold Tonnes Silver SilverGold (000’s) (g/t) (ounces) Silver (000’s) (g/t) (ounces) (000 s) (000’s) (000 s) (000’s)Proven 11,029 2.80 994 Proven 7,318 45.35 10,670Probable 146,057 3.78 17,757 Probable 72,693 45.06 105,319Total Total 157,086 3.71 18,750 80,011 45.09 115,989Reserves ReservesMeasured & Measured & 168,336 168 336 1.78 1 78 9,633 9 633 27,801 27 801 27.24 27 24 24,344 24 344Indicated IndicatedInferred 131,216 2.30 9,712 Inferred 34,513 19.00 21,082See AEM Feb 15, 2012 press release for detailed breakdown of reserves and resources. Reserves  are not a subset of resources. 23
  24. 24. Copper, Zinc and Lead Reserves and Resources December 31, 2011 Tonnes Copper Copper Tonnes Zinc Zinc Tonnes Lead Lead Copper Zinc Lead ( (000’s) ) (%) (tonnes) ( ) ( (000’s) ) (%) ( (tonnes) ) ( (000’s) ) (%) (tonnes) ( ) Proven 5,331 0.28 15,025 Proven 5,331 2.04 108,626 Proven 5,331 0.23 12,391 Probable 27,901 0.27 76,160 Probable 27,901 0.77 215,522 Probable 27,901 0.05 13,441 Total Total Total 33,232 0.27 91,184 33,232 0.98 324,149 33,232 0.08 25,832 Reserves Reserves Reserves Indicated I di t d 7,225 7 225 0.12 0 12 8,629 8 629 Indicated I di t d 7,225 7 225 1.49 107,338 1 49 107 338 Indicated I di t d 7,225 7 225 0.15 11,127 0 15 11 127 Inferred 11,400 0.26 29,664 Inferred 11,400 0.44 49,745 Inferred 11,400 0.05 5,138See AEM Feb 15, 2012 press release for detailed breakdown of reserves and resources. Reserves  are not a subset of resources 24
  25. 25. Notes to Investors Regarding the Use of ResourcesCautionary Note to Investors Concerning Estimates of Measured and Indicated ResourcesThis document uses the terms "measured resources" and "indicated resources". We advise investors that while those terms are recognized and requiredby Canadian regulations, the SEC does not recognize them. Investors are cautioned not to assume that any part or all of mineral deposits in these y g , g yp pcategories will ever be converted into reserves.Cautionary Note to Investors Concerning Estimates of Inferred ResourcesThis document also uses the term "inferred resources". We advise investors that while this term is recognized and required by Canadian regulations, theSEC does not recognize it. "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic andlegal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules,estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not toassume that part or all of an inferred resource exists, or is economically or legally mineable.Scientific and Technical DataAgnico-Eagle Mines Limited is reporting mineral resource and reserve estimates in accordance with the CIM guidelines for the estimation, classification andreporting of resources and reserves.Cautionary Note To U.S. Investors - The SEC permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that acompany can economically and legally extract or produce. Agnico-Eagle uses certain terms in this press release, such as “measured”, “indicated”, and“inferred”, and “resources” that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. investors areurged to consider closely the disclosure in our Form 20-F, which may be obtained from us, or from the SEC’s website at: A“final” or “bankable” feasibility study is required to meet the requirements to designate reserves under Industry Guide 7.Estimates f all properties were calculated using hi t i thE ti t for ll ti l l t d i historic three-year average metals prices and f i t l i d foreign exchange rates i accordance with th SEC h t in d ith theIndustry Guide 7. Industry Guide 7 requires the use of prices that reflect current economic conditions at the time of reserve determination, which the Staffof the SEC has interpreted to mean historic three-year average prices. The assumptions used for the mineral reserves and resources estimates reportedby the Company on February 15, 2012 were based on three-year average prices for the period ending December 31, 2011 of $1,255 per ounce gold,$23.00 per ounce silver, $0.91 per pound zinc, $3.25 per pound copper, $0.95 per pound lead and C$/US$, US$/Euro and MXP/US$ exchange rates of1.05, 1.37 and 12.86, respectively. The assumptions used for the La India reserves estimate reported in the Company’s September 4, 2012 press releasewere based on three-year average prices for the period ending June 30, 2012 of $1,379 per ounce gold, $26.49 per ounce silver, and MXP/US$ exchangerate of 13 00 13.00.The Canadian Securities Administrators’ National Instrument 43-101 (“NI 43-101”) requires mining companies to disclose reserves and resources using thesubcategories of “proven” reserves, “probable” reserves, “measured” resources, “indicated” resources and “inferred” resources. Mineral resources that arenot mineral reserves do not have demonstrated economic viability. 25
  26. 26. Notes to Investors Regarding the Use of ResourcesA mineral reserve is the economically mineable part of a measured or indicated mineral resource demonstrated by at least a preliminary feasibility study.This study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time ofreporting, that economic extraction can be justified. A mineral reserve includes diluting materials and allows for losses that may occur when the material ismined. A proven mineral reserve is the economically mineable part of a measured mineral resource demonstrated by at least a preliminary feasibility study.A probable mineral reserve is the economically mineable part of an indicated, and in some circumstances, a measured mineral resource demonstrated byat least a preliminary feasibility study study.A mineral resource is a concentration or occurrence of natural, solid, inorganic material, or natural solid fossilized organic material including base andprecious metals in or on the Earth’s crust in such form and quantity and of such a grade or quality that it has reasonable prospects for economic extraction.The location, quantity, grade, geological characteristics and continuity of a mineral resource are known, estimated or interpreted from specific geologicalevidence and knowledge. A measured mineral resource is that part of a mineral resource for which quantity, grade or quality, densities, shape and physicalcharacteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economicparameters, to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliableexploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drillholes that are spaced closely enough to confirm both geological and grade continuity. An indicated mineral resource is that part of a mineral resource forwhich quantity, grade or quality, densities, shape and physical characteristics can be estimated with a level of confidence sufficient to allow the appropriateapplication of technical and economic parameters, to support mine planning and evaluation of the economic viability of the deposit. The estimate is basedon detailed and reliable exploration and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits,workings and drill holes that are spaced closely enough for geological and grade continuity to be reasonably assumed. An inferred mineral resource is thatpart of a mineral resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling andreasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through y , , g g g y p g g gappropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. Mineral resources which are not mineral reserves do nothave demonstrated economic viability.Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.A Feasibility Study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriatelydetailed assessments of realistically assumed mining, processing, metallurgical, economic, marketing, legal, environmental, social and governmentalconsiderations together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of analysis,reporting that extraction is reasonably justified (economically mineable). The results of the study may reasonably serve as the basis for a final decision by aproponent or financial institution to proceed with, or finance, the development of the project. The confidence level of the study will be higher than that of aPre-Feasibility Study.The effective date for all of the Company’s mineral resource and reserve estimates in this document is December 31, 2011. The effective date for the newLa India reserves and resources estimates in this document is June 30, 2012. Additional information about each of the mineral projects that is required byNI 43-101, sections 3.2 and 3.3 and paragraphs 3.4 (a), (c) and (d) can be found in Technical Reports, which may be found at Otherimportant operating i fi t t ti information can b f ti be found i th C d in the Company’s F ’ Form 20 F and it news releases d t d F b 20-F d its l dated February 15 2012 and S t b 4 2012 15, d September 4, 2012.Marc Legault, a Qualified Person and the Company’s Senior Vice-President, Project Evaluations, reviewed the technical information disclosed herein.Alain Blackburn, a Qualified Person and the Company’s Senior Vice-President, Exploration, reviewed the technical information regarding the La India mineproject disclosed herein. 26
  27. 27. A solid financial position, low-cost structure, well-funded growth projects in regionsof low political risk, and a focused, consistent strategy put Agnico-Eagle in a strongposition to continue creating exceptional per share value.Sean Boyd Executive and Registered Office:President and  145 King Street East, Suite 400Chief Executive Officer  Toronto, Ontario, Canada, M5C 2Y7David Smith Tel:  Tel: 416 947 1212 416‐947‐1212SVP, Strategic Planning &  Investor  Toll‐Free:  888‐822‐6714     Relations Fax:  416‐367‐4681Trading Symbol: AEM on TSX & NYSEInvestor Relations:I t R l ti416‐947‐1212info@agnico‐