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  • 1. FIRST QUARTER 2014 RESULTS MAY 2, 2014
  • 2. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 2 FORWARD LOOKING STATEMENTS The information in this presentation has been prepared as at May 1, 2014. 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 and information include without limitation: statements regarding the timing and closing of the Osisko Acquisition, statements regarding synergies resulting from the Osisko Acquisition and whether it will be accretive to Agnico Eagle, statements regarding the effect of the Osisko Acquisition on Agnico Eagle’s free cash flow generation, production, reserves, resources, cost profiles, and development project pipeline flexibility, statements regarding the number of shares held by Osisko shareholders after the Osisko Acquisition, statements regarding the accounting methods that will be used by the Company to account for the Osisko Acquisition, 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 future internal rates of return, mining costs, total cash costs, minesite costs, all-in sustaining 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 mine sites 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. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Agnico Eagle as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The material factors and assumptions used in the preparation of the forward looking statements and information contained herein, which may prove to be incorrect, include, but are not limited to, the assumptions set forth herein and in management's discussion and analysis (“MD&A”) and the Company's Annual Information Form (“AIF”) for the year ended December 31, 2103 filed with Canadian securities regulators and that are included in its Annual Report on Form 40-F for the year ended December 31, 2013 (“Form 40-F”) filed with the U.S. Securities and Exchange Commission (the “SEC”) as well as: that the Osisko Acquisition is completed on the terms and in the timeframe expected that the assets and liabilities acquired, directly or indirectly, in the Osisko Acquisition, if consummated, conform to the Company’s expectations and the business acquired is operated in the manner currently contemplated by Agnico Eagle, that there are no significant disruptions affecting operations; that production, permitting and expansion at each of Agnico Eagle's properties proceeds on a basis consistent with current expectations and plans; that the relevant metals prices, exchange rates and prices for key mining and construction supplies will be consistent with Agnico Eagle's expectations; that Agnico Eagle's current estimates of mineral reserves, mineral resources, mineral grades and metal recovery are accurate; that there are no material delays in the timing for completion of ongoing growth projects; that the Company's current plans to optimize production are successful; and that there are no material variations in the current tax and regulatory environment. 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; community protests; 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 AIF and MD&A filed on SEDAR at www.sedar.com and included in the Form 40-F filed on EDGAR at www.sec.gov, as well as the Company’s other filings with the Canadian securities regulators and the SEC. The Company does not intend, and does not assume any obligation, to update these forward-looking statements and information. For a detailed breakdown of the Company’s reserve and resource position see the AIF or Form 40-F.
  • 3. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 3 NOTES TO INVESTORS Note Regarding the Use of Non-GAAP Financial Measures This document discloses certain measures, including ‘‘total cash costs per ounce’’ and ‘‘minesite costs per tonne’’ that are not recognized measures under US GAAP. This data may not be comparable to data presented by other gold producers. For a reconciliation of these measures to the most directly comparable financial information presented in the consolidated financial statements prepared in accordance with US GAAP and for an explanation of how management uses these measures, see “Reconciliation of Non-GAAP Financial Performance Measures” in the Company’s press release dated May 1, 2014 as well as the Company’s MD&A and Form 40-F. The Company believes that the generally accepted industry measures that it uses are realistic indicators of operating performance and are useful in allowing year over year comparisons. However, non-US GAAP measures should be considered together with other data prepared in accordance with US GAAP, and such measures, taken by themselves, are not necessarily indicative of operating costs or income measures prepared in accordance with US GAAP. This document also contains information as to estimated future total cash costs per ounce and minesite costs per tonne. The estimates are based upon the total cash costs per ounce and minesite costs per tonne that the Company expects to incur to mine gold at its mines and projects and, consistent with the reconciliation of these actual costs referred to above, do not include production costs attributable to accretion expense and other asset retirement costs, which will vary over time as each project is developed and mined. It is therefore not practicable to reconcile these forward-looking non-US GAAP financial measures to the most comparable US GAAP measure. Note Regarding Production Guidance The gold production guidance is based on the Company’s mineral reserves but includes contingencies and assumes metal prices and foreign exchange rates that are different from those used in the reserve estimates. These factors and others mean that the gold production guidance presented in this disclosure does not reconcile exactly with the production models used to support these mineral reserves.
  • 4. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 4  Record quarterly gold production of 366,421 oz with total cash costs of $537/oz  Record production at Meadowbank – 156,444 oz of gold at a total cash cost of $434/oz  Expected to exceed production guidance of 1.205 M oz and be below the lower end of our cash cost forecast of $670/oz  Strong Q1 2014 cash flow allows US$80 million repayment to revolving credit facility  Quarterly cash flows from operations of $247.7 million  Joint acquisition with Yamana Gold of Osisko Mining Corporation announced on April 16, 2014 – acquisition is a good strategic fit and enhancement to Agnico Eagle’s already strong business platform HIGHLIGHTS – AN EXCEPTIONAL Q1 2014
  • 5. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 5 Q1 2014 OPERATING RESULTS RECORD PRODUCTION AND IMPROVED COST PERFORMANCE Q1 2014 2014 Forecast Production (Gold oz) Total Cash Cost ($/oz) Operating Margin ($, 000’s) Midpoint of Production Estimate (Gold oz) Northern Business LaRonde 59,352 $603 $43,117 215,000 Lapa 23,409 $666 $15,237 80,000 Goldex 19,430 $707 $10,579 80,000 Kittila 38,552 $795 $19,037 150,000 Meadowbank 156,444 $434 $119,971 430,000 297,187 $551 $207,941 955,000 Southern Business Pinos Altos 45,217 $450 $38,597 145,000 Creston Mascota 10,317 $613 $7,511 40,000 La India 13,7001 $4261 $13,627 50,000 69,234 $472 $59,735 235,000 Total 366,421 $537 $267,676 1,190,000 Q1 2014 Total Operating Margin – $267.7 MQ1 2014 Revenue by Metal Gold 92% Silver 6% Base Metals 2% Meadowbank, 45% Creston Mascota, 3% Pinos Altos, 14% Kittila, 7% Goldex, 4% Lapa, 6% LaRonde, 16% La India, 5% 1. Includes 3,492 ounces from the La India mine’s non-commercial phase production during the first quarter of 2014. For the total cash cost calculation, 3,492 ounces are excluded.
  • 6. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 6 Q1 2014 FINANCIAL RESULTS RECORD PRODUCTION AND LOW COSTS DRIVE STRONG EARNINGS AND CASH FLOW All amounts are in US$, unless otherwise indicated Q1 2014 Q1 2013 Realized Gold Price ($/oz) $1,308 $1,611 Revenues (millions) $491.8 $420.4 Earnings (millions) $108.9 $23.9 Earnings per share (basic) $0.63 $0.14 Cash provided by operating activities (millions) $247.7 $146.1 Payable Production Gold (ounces) 366,421 236,975 Silver (ounces in thousands) 880 1,251 Zinc (tonnes) 2,060 8,239 Copper (tonnes) 1,554 1,082 Total cash costs ($/oz) $537 $740
  • 7. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 7 FINANCIAL POSITION CASH, EXPECTED CASH FLOWS, AND AVAILABLE CREDIT PROVIDE FLEXIBILITY Long-term Debt Maturities 2017 2020 2022 2024 Notes Outstanding (millions) $115 $360 $225 $100 Coupon 6.13% 6.67% 5.93% 5.02% All Amounts Are In US$, (Unless Otherwise Indicated) Mar 31, 2014 Cash And Cash Equivalents (millions) $206.8 Outstanding Debt (millions) $920 Available Credit Facilities (millions) $1,080 Common Shares Outstanding, Basic (FY 2014 Weighted Average, millions) 174.0 Common Shares Outstanding, Fully Diluted (FY 2014 Weighted Average, millions) 174.3
  • 8. NORTHERN BUSINESS
  • 9. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 9 LARONDE IN 2014, 80% OF ORE EXPECTED TO BE SOURCED FROM DEEPER HIGHER GRADE ZONES  Cooling and ventilation systems now operational – provides additional flexibility to mining plan  Production from deeper, higher grade area of mine expected to ramp up substantially through 2016  Work underway on the installation of a coarse ore conveyor system from the 293 level to 280 level  Q1 cost per tonne higher due to a temporary shutdown of the underground mine P&P Gold Reserves (million oz) 3.9 Average Gold Reserve Grade (g/t) 5.0 Indicated resource (million oz) (4.2 M tonnes @ 2.12 g/t) 0.3 Inferred resource (million oz) (10.5 M tonnes @ 4.61 g/t) 1.6 Estimated LOM 12 See AEM Feb 13, 2014 press release for detailed breakdown of reserves and resources. $80 $90 $100 $110 - 10 20 30 40 50 60 70 Q4-12 Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Production (koz) Cost/tonne
  • 10. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 10 MEADOWBANK RECORD QUARTERLY PRODUCTION IN Q1 2014  Record quarterly production and minesite costs per tonne in the first quarter of 2014  ~60% of 2014 production expected in H1 2014  Higher grades and ongoing cost saving initiatives contributed to strong operational results in the first quarter of 2014 P&P Gold Reserves (million oz) 1.8 Average Gold Reserve Grade (g/t) 3.2 Indicated gold resource (million oz) (7.3 M tonnes @ 3.28 g/t) 0.8 Inferred gold resource (million oz) (3.3 M tonnes @ 3.96 g/t) 0.4 Estimated LOM (years) 4 See AEM Feb 12, 2014 press release for detailed breakdown of reserves and resources. $70 $76 $82 $88 $94 - 25 50 75 100 125 150 Q4-12 Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Production (koz) Cost/tonne
  • 11. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 11  Mill throughput continues near record levels  750 tpd mill expansion remains on budget with start-up expected in mid-2015  Study to consider production shaft and Rimpi zone development underway P&P Gold Reserves (million oz) 4.7 Average Gold Reserve Grade (g/t) 4.6 Measured & Indicated gold resource (million oz) (11.0 M tonnes @ 2.79 g/t) 1.0 Inferred gold resource (million oz) (7.5 M tonnes @ 4.12 g/t) 1.0 Estimated LOM (years) 21 See AEM Feb 12, 2014 press release for detailed breakdown of reserves and resources. KITTILA LONG LIFE ASSET WITH FURTHER EXPANSION POTENTIAL € 60 € 70 € 80 € 90 - 10 20 30 40 50 60 Q4-12 Q1-13 Q3-13 Q4-13 Q1-14 Production (koz) Cost/tonne No production in Q2-13 due to scheduled shutdown
  • 12. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 12  Throughput expected to increase to 6,000 tpd in 2015 from 5,500 tpd in 2014  Development activity on the MX and E2 satellite zones and acceleration of exploration ramp into deeper D zone are ongoing  Newly acquired Akasaba West deposit could provide future mill feed to Agnico’s Abitibi facilities P&P Gold Reserves (million oz) 0.4 Average Gold Reserve Grade (g/t) 1.5 Measured & Indicated gold resource (million oz) (30.1 M tonnes @ 1.96 g/t) 1.9 Inferred gold resource (million oz) (26.1 M tonnes @ 1.64 g/t) 1.4 Estimated LOM (years) 4 See AEM Feb 12, 2014 press release for detailed breakdown of reserves and resources. GOLDEX OPTIMIZATION CONTINUES TO YIELD COST IMPROVEMENTS $30 $35 15 20 Q4-13 Q1-14 Production (koz) Cost/tonne
  • 13. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 13  Steady performance with ongoing cost savings measures  Zulapa mineralized zone now incorporated into mine plans – mine life expected to extend further into 2016 P&P Gold Reserves (million oz) 0.3 Average Gold Reserve Grade (g/t) 6.0 Indicated gold resource (million oz) (1.6 M tonnes @ 4.28 g/t) 0.2 Inferred gold resource (million oz) (1.0 M tonnes @ 5.49 g/t) 0.2 Estimated LOM (years) 3 See AEM Feb 12, 2014 press release for detailed breakdown of reserves and resources. LAPA COST CONTAINMENT CONTINUES IN 2014 $100 $105 $110 $115 $120 - 5 10 15 20 25 30 Q4-12 Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Production (koz) Cost/tonne
  • 14. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 14  2014 capital expenditures forecast to be $47 million  Main focus on ramp development  Program also includes in-fill drilling on Tiriganiaq, Wesmeg/ Normeg, and Pump zones.  Encouraging exploration results from Pump zone – potential to host additional high-grade resources  Updated technical study on track for late 2014  Permitting activities continue - Final Environmental Impact Statement (FEIS) being prepared MELIADINE RAMP EXTENSION IN 2014 PROVIDES DEVELOPMENT FLEXIBILITY P&P Gold Reserves (million oz) 2.8 Average Gold Reserve Grade (g/t) 7.4 Indicated gold resource (million oz) (19.0 M tonnes @ 5.05 g/t) 3.1 Inferred gold resource (million oz) (11.7 M tonnes @ 7.20 g/t) 2.7 Estimated LOM (years) See AEM Feb 12, 2014 press release for detailed breakdown of reserves and resources.
  • 15. SOUTHERN BUSINESS
  • 16. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 16 PINOS ALTOS STRONG PERFORMANCE CONTINUES  Strong mill performance continued in 2014  Hoist commissioning and change-over activities completed in preparation for the continuation of shaft sinking  At Pinos Altos, evaluation continues on a number of potential satellite deposits that could enhance production and cost profile  Cost per tonne variation primarily due to normal fluctuations in milled vs. heap leach ratio P&P Gold Reserves (million oz)* 2.3 Average Gold Reserve Grade (g/t) 2.5 Indicated gold resource (million oz)* (13.9 M tonnes @ 1.54 g/t) 0.7 Inferred gold resource (million oz)* (17.7 M tonnes @ 1.28 g/t) 0.7 Estimated LOM (years) 14 *Pinos Altos reserves and resources include the Creston Mascota mine See AEM Feb 12, 2014 press release for detailed breakdown of reserves and resources. $35 $50 $65 - 10 20 30 40 50 Q4-12 Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Production (koz) Cost/tonne
  • 17. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 17 CRESTON MASCOTA PHASE 3 LEACH PAD CONSTRUCTION COMPLETED  Phase 3 leach pad construction at Creston Mascota completed in late April 2014  Stronger production expected in H2 2014 with commissioning of a new agglomerator *Pinos Altos reserves and resources include the Creston Mascota mine See AEM Feb 12, 2014 press release for detailed breakdown of reserves and resources. $10 $15 $20 5 6 7 8 9 10 11 12 Q2-13 Q3-13 Q4-13 Q1-14 Production (koz) Cost/tonne No production in Q4-12 and Q1-13 due to temporary suspension P&P Gold Reserves (million oz)* 0.3 Average Gold Reserve Grade (g/t) 1.3 Indicated gold resource (million oz)* (2.4 M tonnes @ 0.66 g/t) 0.05 Inferred gold resource (million oz)* (0.8 M tonnes @ 0.82 g/t) 0.02 Estimated LOM (years) 5
  • 18. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 18 LA INDIA COMMERCIAL PRODUCTION ACHIEVED FEBRUARY 1, 2014  1.0M tonnes of ore stacked on heap leach pad during the first quarter of 2014 which yielded 3,492 ounces of pre-commercial gold production and 10,208 ounces of commercial gold production  Throughput continues to ramp up - stacking rates currently averaging approx. 11,321 tpd  During the ramp-up phase, total cash costs were favourable ($426/oz) due to slightly higher head grades and lower stripping costs compared to anticipated levels See AEM Feb 12, 2014 press release for detailed breakdown of reserves and resources. P&P Gold Reserves (million oz) 0.8 Average Gold Reserve Grade (g/t) 0.9 Measured & Indicated gold resource (million oz) (56.2 M tonnes @ 0.38 g/t) 0.7 Inferred gold resource (million oz) (82.1 M tonnes @ 0.36 g/t) 1.0 Estimated LOM (years) 7
  • 19. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 19  Expect to exceed the upper end of production guidance range and do better than the lower end of cash cost guidance range in 2014  Osisko acquisition expected to be completed in early June 2014  Update on Akasaba West project expected in H2 2014  Continuing evaluation of satellite deposits at Pinos Altos and Goldex, which could enhance production and cost profiles  Updated Meliadine technical study expected in Q4 2014  Update on a production shaft and Rimpi Zone development at Kittila expected in late 2014  Completion of 750 tpd mill expansion at Kittila expected by mid-2015  Installation of new ore conveyor at LaRonde Deep expected in 2015 – should help reduce costs and congestion FUTURE CATALYSTS
  • 20. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 20 Bid Price • C$8.15 per Osisko share • C$3.9 billion equity value Consideration Offered • C$2.09 in cash per Osisko share, equal contribution by Agnico Eagle and Yamana • 0.07264 of Agnico Eagle common shares (value of C$2.43 per share), 0.26471 of Yamana common shares (value of C$2.43 per share) • C$1.20 per share in Spinco common shares Structure • Joint acquisition of 100% of Osisko’s outstanding common shares • Agnico Eagle and Yamana become equal partners in Osisko’s Canadian Malartic mine and a suite of high potential exploration projects in Ontario and Quebec • Canadian Malartic mine to be operated through a joint operating committee Premium • 11% premium to the implied value of the current Goldcorp hostile bid • 10% premium to Osisko’s close on April 15, 2014 Financing • Agnico Eagle and Yamana will each fund C$501 million in cash • Remaining consideration in Agnico Eagle and Yamana shares plus shares in Spinco Conditions • Osisko shareholder vote (66 2/3% of shareholders voting) • Regulatory and court approvals Other Terms • C$195 million break fee shared equally by Agnico Eagle and Yamana • Shareholders of Osisko, including all directors and officers, holding approximately 4.5% of the shares, have entered into voting agreements with Agnico Eagle and Yamana • Non-solicitation and 5-day right to match superior proposal provision • C$10 million cost reimbursement to each of Agnico Eagle and Yamana under certain circumstances Indicative Timetable • Osisko shareholder vote expected to be held later in May 2014 • Closing expected early June 2014 OSISKO ACQUISITION - TRANSACTION SUMMARY Note: Based on closing prices from April 15, 2014.
  • 21. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 21 OSISKO ACQUISITION - TRANSACTION RATIONALE  Accretive to per share financial metrics and operating metrics  Simple, low risk acquisition – Canadian Malartic is an asset without permitting, construction capital or start up risk  Builds on the Northern Business Platform – Canadian Malartic is forecast to produce an average of ~600,000 ozs gold per year for 14 years (100% basis)  Minimal share dilution – OSK shareholders will own 16.7% of Agnico Eagle. In line with previous deals  Manageable debt levels – added debt is manageable in the context of a larger business generating stronger free cash flow  Expecting synergies with existing Québec operations  Kirkland Lake assets enhance and add flexibility to development project pipeline  Maintains strategy of operating in supportive regions with low political risk
  • 22. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 22 204,380 234,837 218,980 235,000 295,000 300,000 781,080 808,974 880,355 955,000 955,000 975,000 133,000 296,000 315,000 $580 $640 $672 $667 2011A 2012A 2013A 2014E* 2015E* 2016E* OSISKO ACQUISITION ENHANCES FORECASTED PRODUCTION PROFILE APPROXIMATELY 20% GROWTH FROM 2014 THROUGH 2016 Payable Gold Production Profile * Canadian Malarctic production is 50% of the LOM estimate from Mar 20, 2014 Osisko press release Note: 2014 estimate assumes half year ownership 985,460 1,043,811 1,099,335 1,323,000 1,546,000 1,590,000 Northern Business (oz) Southern Business (oz) Canadian Malarctic Cash Cost
  • 23. APPENDIX
  • 24. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 24 Proven and Probable Reserves: 281.2 Mt @1.04 g/t Au Global M&I Resources: 327.0 Mt @1.06g/t Au Global Inferred Resources: 48.1 Mt @0.75 g/t Au CANADIAN MALARTIC EXPLORATION POTENTIAL ODYSSEY TARGET APPEARS SIMILAR TO GOLDEX Odyssey Targets (UG) 2.5 g/t Au over 42.7 m 7.2 g/t Au over 7.5 m historical Lac Minerals DDH 3.03 g/t Au over 38.1 m 2.53 g/t Au over 42.6 m 2.12 g/t Au over 70.1 m 1.83 g/t Au over 51.8 m 6.45 g/t Au over 14.0 m Source: Reserve and resource estimates based on Osisko press release dated March 20, 2014. Odyssey drill results based on Osisko press release dated April 2, 2014.
  • 25. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 25 *2014 Prod. : 215K oz * Reserves: 3.9 Moz @ 5.0 gpt Au * Indicated Resources: 4.2 Mt @ 2.12 gpt Au *2014 Prod. : 80K oz * Reserves: 0.3 Moz @ 6.0 gpt Au * Indicated Resources: 1.6 Mt @ 4.28 gpt Au PANDORA & WOOD PANDORA – JV PROJECTS PROPERTIES ARE CONTIGUOUS TO THE LAPA MINE New Intersections 2013: 15.1 g/t Au over 11.8m 2012: 3.81 g/t Au over 41m 2011: 28.86 g/t Au over 4.9m PANDORA CLLF Targets PN14-02: 1.2 g/t Au over 46.5m PN14-03: 1.8 g/t Au over 45.4m PN14-05 : 4.6 g/t Au over 34.7m PN14-06 : 1.1 g/t Au over 58.5m Pandora Source: Modified from Globex Investor Presentation March 2014
  • 26. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 26 KIRKLAND LAKE PROJECTS 35 M OZ OF HISTORICAL GOLD PRODUCTION IN THE DISTRICT - MAIN TARGETS UPPER BEAVER & CANADIAN KIRKLAND 230km2 hosting five deposits with disclosed NI 43-101 resources of 2.1 Moz indicated and 1.8 Moz inferred BIDGOOD (OP) Ind: 1.5 Mt @ 1.7 g/t Au, 76 k oz Inf: 0.3 Mt @ 2.0 g/t Au, 21 k oz AK (UG) Ind: 1.2 Mt @ 4.5 g/t Au, 164 k oz Inf: 1.5 Mt @ 4.2 g/t Au, 207 k oz ANOKI / MCBEAN (UG) Ind: 1.4 Mt @ 4.7 g/t Au, 217 k oz Inf: 1.6 Mt @ 4.7 g/t Au, 237 k oz MACASSA MINE + SMC P+P: 2.5 Mt @ 17.1 g/t Au, 1.4 M oz M+I: 3.8 Mt @ 17.0g/t Au, 2.1M oz Inf: 1.9 Mt @ 18.6g/t Au, 1.1M oz (UG) Ind: 0.24 Mt @ 4.3 g/t Au, 33 k oz (UG) Inf: 3.6 Mt @ 4.8 g/t Au, 557 k oz (OP) Ind: 1.7 Mt @ 1.9 g/t Au, 104 k oz (OP) Inf: 1.3 Mt @ 1.9 g/t Au, 76 k oz UPPER BEAVER (UG) Ind: 6.9 Mt @ 6.6 g/t Au, 1.5 M oz Inf: 4.6 Mt @ 4.9 g/t Au, 712 k oz Canadian Kirkland Upper Beaver Source: Modified from Osisko reports and Kirkland Lake Gold reports
  • 27. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 27 GOLD AND SILVER RESERVES AND RESOURCES DECEMBER 31, 2013 Gold Silver Tonnes (000’s) Gold (g/t) Gold (ounces) (000’s) Tonnes (000’s) Silver (g/t) Silver (ounces) (000’s) Proven & Probable Reserves Northern Business 93,618 4.60 13,841 24,127 19.59 15,192 Southern Business 55,800 1.69 3,024 28,703 64.32 59,354 Total 149,418 3.51 16,865 52,830 43.89 74,546 Measured & Indicated Resources Northern Business 86,869 2.96 8,276 4,242 32.53 4,436 Southern Business 70,171 0.61 1,378 13,935 33.63 15,066 Total 157,040 1.91 9,654 18,177 33.37 19,502 Inferred Resources Northern Business 69,674 3.77 8,434 10,536 14.72 4,986 Southern Business 99,795 0.53 1,686 17,707 26.28 14,962 Total 169,470 1.86 10,121 28,243 21.97 19,948 See AEM Feb 12, 2014 press release for detailed breakdown of reserves and resources. Reserves are not a subset of resources.
  • 28. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 28 COPPER, ZINC AND LEAD RESERVES AND RESOURCES DECEMBER 31, 2013 Copper Zinc Lead Tonnes (000’s) Copper (%) Copper (tonnes) Tonnes (000’s) Zinc (%) Zinc (tonnes) Tonnes (000’s) Lead (%) Lead (tonnes) Proven & Probable Reserves Northern Business 24,127 0.25 59,519 24,127 0.67 161,108 24,127 0.04 9,964 Southern Business Total 24,127 0.25 59,519 24,127 0.67 161,108 24,127 0.04 9,964 Measured & Indicated Resources Northern Business 4,242 0.16 6,981 4,242 1.61 68,127 4,242 0.16 6,793 Southern Business Total 4,242 0.16 6,981 4,242 1.61 68,127 4,242 0.16 6,793 Inferred Resources Northern Business 10,536 0.27 28,118 10,536 0.55 58,463 10,536 0.05 5,176 Southern Business Total 10,536 0.27 28,118 10,536 0.55 58,463 10,536 0.05 5,176 See AEM Feb 12, 2014 press release for detailed breakdown of reserves and resources. Reserves are not a subset of resources.
  • 29. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 29 NOTES TO INVESTORS REGARDING THE USE OF RESOURCES Cautionary Note to Investors Concerning Estimates of Measured and Indicated Resources This document uses the terms “measured resources” and “indicated resources”. We advise investors that while those terms are recognized and required by Canadian regulations, the SEC does not recognize them. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Cautionary Note to Investors Concerning Estimates of Inferred Resources This document also uses the term “inferred resources”. We advise investors that while this term is recognized and required by Canadian regulations, the SEC does not recognize it. “Inferred resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal 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 to assume that part or all of an inferred resource exists, or is economically or legally mineable. Scientific and Technical Data Agnico Eagle Mines Limited is reporting mineral resource and reserve estimates in accordance with the CIM guidelines for the estimation, classification and reporting 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 a company can economically and legally extract or produce. Agnico Eagle uses certain terms in this presentation, 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 are urged to consider closely the disclosure in our Form 40-F and other U.S. filings, which may be obtained from us, or from the SEC’s website at: http://sec.gov/edgar.shtml. In prior periods, reserves for all properties were typically estimated using historic three-year average metals prices and foreign exchange rates in accordance with the SEC guidelines. These guidelines require the use of prices that reflect current economic conditions at the time of reserve determination, which the Staff of the SEC has interpreted to mean historic three-year average prices. Given the current lower commodity price environment, Agnico Eagle has decided to use price assumptions that are below the three-year averages. The assumptions used for the mineral reserves estimates at all mines and advanced projects as of December 31, 2013, reported by the Company on February 12, 2014, are $1,200 per ounce gold, $18.00 per ounce silver, $0.82 per pound zinc, $3.00 per pound copper, $0.91 per pound lead and C$/US$, US$/Euro and MXP/US$ exchange rates of 1.03, 1.32 and 12.75, respectively. The Canadian Securities Administrators’ National Instrument 43-101 (“NI 43-101”) requires mining companies to disclose reserves and resources using the subcategories of “proven” reserves, “probable” reserves, “measured” resources, “indicated” resources and “inferred” resources. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
  • 30. AGNICO EAGLE | FIRST QUARTER 2014 RESULTS| 30 NOTES TO INVESTORS REGARDING THE USE OF RESOURCES A 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 of reporting, that economic extraction can be justified. A mineral reserve includes diluting materials and allows for losses that may occur when the material is mined. 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 by at least a preliminary feasibility study. A mineral resource is a concentration or occurrence of natural, solid, inorganic material, or natural solid fossilized organic material including base and precious 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 geological evidence and knowledge. A measured mineral resource is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to confirm both geological and grade continuity. An indicated mineral resource is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters, to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on 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 that part of a mineral resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. Mineral resources which are not mineral reserves do not have 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 appropriately detailed assessments of realistically assumed mining, processing, metallurgical, economic, marketing, legal, environmental, social and governmental considerations together with any other relevant operational factors and detailed financial analysis, that are necessary to demonstrate at the time of reporting that extraction is reasonably justified (economically mineable). The results of the study may reasonably serve as the basis for a final decision by a proponent 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 a Pre-Feasibility Study. The effective date for all of the Company’s mineral resource and reserve estimates in this presentation is December 31, 2013. Additional information about each of the mineral projects that is required by NI 43-101, sections 3.2 and 3.3 and paragraphs 3.4 (a), (c) and (d) can be found in the technical reports referred to in the AIF and Form 40-F, which may be found at www.sedar.com. Other important operating information can also be found in the AIF and technical reports that is included in the Form 40-F available on EDGAR at www.sec.gov. The scientific and technical information contained herein has been approved by Daniel Doucet, Corporate Director, Reserve Development, and/or Alain Blackburn, Senior Vice- President, Exploration. Both Mr. Doucet and Mr. Blackburn are designated P.Eng. with the Ordre ingenieurs du Québec and qualified persons as defined by NI 43-101.
  • 31. Trading Symbol: AEM on TSX & NYSE Investor Relations: 416-947-1212 info@agnicoeagle.com agnicoeagle.com