The document provides an update on Agnico Eagle, a gold mining company. It discusses forward-looking production guidance estimates for 2015, including expected ore grades, metal production, costs per ounce, and estimated timing of technical reports. It notes Agnico Eagle expects around 14% production growth in 2015 and all-in sustaining costs in 2015 are expected to decline by 6% from 2014 levels. The document also contains standard cautionary notes about forward-looking statements and the use of non-GAAP measures in evaluations performance.
Agnico Eagle provided a corporate update for January 2015 including the following key points:
- 2015 gold production is expected to increase 14% to approximately 1.6 million ounces compared to 2014, driven by higher production at Meadowbank, Kittila, and Mexican operations. Total cash costs per ounce are expected to decline 6% from 2014.
- The company has manageable expansion capital requirements with projects like the Kittila plant expansion and Pinos shaft completion expected to increase production capacity.
- Agnico Eagle has financial flexibility with a net debt of $1.2 billion and $700 million in undrawn credit lines to fund future growth.
This document provides a corporate update for Agnico Eagle. It discusses Agnico Eagle's increased gold production guidance for 2014 and 2015, driven by strong operational performance at Meadowbank, Kittila, and Mexican operations. Production is forecast to increase 14% to 1.6 million ounces in 2015 while total cash costs are expected to decline 6% from 2014 levels. The document also addresses Agnico Eagle's financial position and flexibility.
The document provides forward-looking statements and notes of caution for Agnico Eagle's presentation at a metals and mining conference. It notes that forward-looking production estimates involve risks and uncertainties beyond Agnico Eagle's control. It also explains that the presentation discloses non-GAAP financial measures like total cash costs per ounce of gold produced, and provides reconciliations to IFRS measures. Finally, it states that the gold production guidance is based on mineral reserves but includes contingencies and price assumptions different than those used for reserves.
Agnico Eagle reported record annual gold production in 2014 of 1.429 million ounces at total cash costs of $637 per ounce. For the fourth quarter of 2014, gold production was 387,538 ounces at total cash costs of $662 per ounce. Agnico Eagle expects gold production to increase to approximately 1.6 million ounces in 2015 at total cash costs of $610 to $630 per ounce, and all-in sustaining costs of $880 to $900 per ounce. Agnico Eagle also provided three-year production guidance for 2015 to 2017, with expected average annual gold production of approximately 1.6 million ounces.
This document provides forward-looking statements and notes to investors regarding Agnico Eagle's presentation at the Jefferies 11th Annual Industrials Conference in August 2015. It cautions readers that forward-looking statements are subject to risks and uncertainties. It also notes that the presentation discloses non-GAAP financial measures such as total cash costs per ounce and minesite costs per tonne, and provides reconciliations to IFRS measures. Finally, it states that the gold production guidance is based on mineral reserves but includes contingencies and price assumptions different from reserve estimates.
Agnico Eagle reported its first quarter 2015 results on May 1, 2015. The document discusses forward-looking statements and provides notes to investors regarding non-GAAP financial measures and production guidance. It reports that the first quarter saw record quarterly gold production of 404,210 ounces at total cash costs per ounce. Key factors discussed include metal prices, exchange rates, mineral reserves and resource estimates, production costs, expansion projects, and estimated mine lives. Risk factors that could affect actual results are also outlined.
This document provides an overview of a site tour that was conducted at El Barqueño on September 23, 2015. It begins with standard forward-looking statements and disclaimers about projections. It then provides notes to investors about the use of non-GAAP financial measures in evaluations, production guidance assumptions, mineral resource categories, and scientific and technical data standards. Key points covered include projected total cash costs, all-in sustaining costs, mineral reserve estimates used, and qualifications of individuals who approved the scientific and technical content.
The document provides an overview of Agnico Eagle's Amaruq investor tour on August 20, 2015. It begins with forward-looking statements and notes of caution for investors. It then provides an agenda that will discuss Nunavut, the Meadowbank operations including the Vault extension, details on Amaruq, and information on Meliadine. Exploration and development highlights are provided, noting increased resources at Amaruq and optimization studies continuing at Meliadine.
Agnico Eagle provided a corporate update for January 2015 including the following key points:
- 2015 gold production is expected to increase 14% to approximately 1.6 million ounces compared to 2014, driven by higher production at Meadowbank, Kittila, and Mexican operations. Total cash costs per ounce are expected to decline 6% from 2014.
- The company has manageable expansion capital requirements with projects like the Kittila plant expansion and Pinos shaft completion expected to increase production capacity.
- Agnico Eagle has financial flexibility with a net debt of $1.2 billion and $700 million in undrawn credit lines to fund future growth.
This document provides a corporate update for Agnico Eagle. It discusses Agnico Eagle's increased gold production guidance for 2014 and 2015, driven by strong operational performance at Meadowbank, Kittila, and Mexican operations. Production is forecast to increase 14% to 1.6 million ounces in 2015 while total cash costs are expected to decline 6% from 2014 levels. The document also addresses Agnico Eagle's financial position and flexibility.
The document provides forward-looking statements and notes of caution for Agnico Eagle's presentation at a metals and mining conference. It notes that forward-looking production estimates involve risks and uncertainties beyond Agnico Eagle's control. It also explains that the presentation discloses non-GAAP financial measures like total cash costs per ounce of gold produced, and provides reconciliations to IFRS measures. Finally, it states that the gold production guidance is based on mineral reserves but includes contingencies and price assumptions different than those used for reserves.
Agnico Eagle reported record annual gold production in 2014 of 1.429 million ounces at total cash costs of $637 per ounce. For the fourth quarter of 2014, gold production was 387,538 ounces at total cash costs of $662 per ounce. Agnico Eagle expects gold production to increase to approximately 1.6 million ounces in 2015 at total cash costs of $610 to $630 per ounce, and all-in sustaining costs of $880 to $900 per ounce. Agnico Eagle also provided three-year production guidance for 2015 to 2017, with expected average annual gold production of approximately 1.6 million ounces.
This document provides forward-looking statements and notes to investors regarding Agnico Eagle's presentation at the Jefferies 11th Annual Industrials Conference in August 2015. It cautions readers that forward-looking statements are subject to risks and uncertainties. It also notes that the presentation discloses non-GAAP financial measures such as total cash costs per ounce and minesite costs per tonne, and provides reconciliations to IFRS measures. Finally, it states that the gold production guidance is based on mineral reserves but includes contingencies and price assumptions different from reserve estimates.
Agnico Eagle reported its first quarter 2015 results on May 1, 2015. The document discusses forward-looking statements and provides notes to investors regarding non-GAAP financial measures and production guidance. It reports that the first quarter saw record quarterly gold production of 404,210 ounces at total cash costs per ounce. Key factors discussed include metal prices, exchange rates, mineral reserves and resource estimates, production costs, expansion projects, and estimated mine lives. Risk factors that could affect actual results are also outlined.
This document provides an overview of a site tour that was conducted at El Barqueño on September 23, 2015. It begins with standard forward-looking statements and disclaimers about projections. It then provides notes to investors about the use of non-GAAP financial measures in evaluations, production guidance assumptions, mineral resource categories, and scientific and technical data standards. Key points covered include projected total cash costs, all-in sustaining costs, mineral reserve estimates used, and qualifications of individuals who approved the scientific and technical content.
The document provides an overview of Agnico Eagle's Amaruq investor tour on August 20, 2015. It begins with forward-looking statements and notes of caution for investors. It then provides an agenda that will discuss Nunavut, the Meadowbank operations including the Vault extension, details on Amaruq, and information on Meliadine. Exploration and development highlights are provided, noting increased resources at Amaruq and optimization studies continuing at Meliadine.
This document is an introduction and forward-looking statement from Agnico Eagle for their presentation at the Bank of America Merrill Lynch 21st Annual Canada Mining Conference in September 2015. It outlines key assumptions and risk factors for forward-looking production guidance, cost estimates, and timelines. It also provides notes to investors on the use of non-GAAP financial measures and production guidance included in the presentation.
The document provides an overview of Scotiabank's BBQ on August 18, 2015. It includes forward-looking statements about Agnico Eagle's expected future production, costs, projects, and studies. Highlights from the first half of 2015 include strong operating performance with 807,888 ounces of gold produced at total cash costs of $595 per ounce. Production guidance for 2015 is maintained at 1.6 million ounces with reduced costs. The Goldex Deep 1 project was approved to add 7 years of mine life. Drilling is expanding resources at Amaruq and the Vault extension could reduce the potential production gap with Amaruq.
Agnico Eagle reported its second quarter 2015 results. Key highlights included:
- Payable gold production of 403,678 ounces at total cash costs per ounce of $601.
- Production guidance for 2015 maintained at 1.6 million ounces with costs reduced.
- Approval of mining at the Vault Extension and Goldex Deep 1 projects expected to extend mine life.
- Infill drilling at Amaruq confirmed grades and thicknesses with mineralization extended to depth.
- Continued focus on debt reduction with $25 million repaid on the credit facility in Q2 2015.
Macquarie 2015 Global Metals, Mining % Materials Conference, New YorkAgnico Eagle Mines
This document provides an overview of Agnico Eagle's presentation at the Macquarie 2015 Global Metals, Mining & Materials Conference on June 10-11, 2015. It discusses Agnico Eagle's assets in Nunavut, Finland, Mexico, and the Abitibi Region, which are focused in four low-risk mining jurisdictions. Production is forecast to be approximately 1.6 million ounces in 2015 at a cash cost of $618 per ounce. The presentation also highlights Agnico Eagle's reserve quality, production and cost profile, opportunities to enhance future production, 2014 reserve highlights, and exploration/development pipeline.
The document provides forward-looking statements and production guidance for Agnico Eagle at the BMO Capital Markets 24th Global Metals and Mining Conference in February 2015. It notes key assumptions used in projections, such as metal prices and exchange rates, and risks that could impact projections. It also provides context on non-GAAP terms used, such as total cash costs per ounce and minesite costs per tonne, and reconciles them to GAAP financial reporting. Finally, it states that the gold production guidance is based on mineral reserves but includes contingencies, and does not reconcile exactly to reserve models due to factors like metal price and exchange rate assumptions.
- Agnico Eagle reported strong Q3 2014 operating performance with gold production of 349,273 oz and total cash costs of $716/oz.
- Production for 2014 is expected to exceed guidance and reach approximately 1.4 Moz, while 2015 guidance is increased to approximately 1.6 Moz due to higher forecasts at Meadowbank, Kittila, and Mexican operations.
- Upgrades at LaRonde, lower costs at Goldex, and optimization at Canadian Malartic position the Abitibi operations for increased performance going forward.
Agnico Eagle held a Denver Gold Forum in September 2016 to provide information to investors. The document included forward-looking statements about production guidance, costs, and other estimates. It noted the risks that actual results may differ from expectations due to uncertainties in metal prices, costs, and other factors. It also summarized the company's strategy of production growth from its existing assets, high-quality gold reserves with above-average grades, and exploration adding new resources.
The document provides an overview of Agnico Eagle's Kittila mine site visit in November 2016. Some key points:
- Kittila is Agnico Eagle's largest gold mine in Europe and has estimated reserves to continue operations through 2035.
- Underground development and mining rates are being optimized to fully access the Rimpi and newly discovered Sisar zones.
- Drilling in Q3 2016 yielded the widest intercept to date in the Sisar Central Zone of 6.6 g/t gold over 12.7 metres.
- The processing plant uses pressure oxidation in an autoclave to treat the refractory gold ore, followed by milling, flotation, leaching and electrowin
The Barsele Gold Project is located in northern Sweden near existing infrastructure. Agnico Eagle has a 55% interest in the project. Previous exploration identified gold mineralization at the Central, Avan, and Skiråsen zones. In 2015-2016, Agnico Eagle conducted drilling programs to expand and define these zones, with the goal of releasing an initial inferred resource estimate by the end of 2016. Drilling to date has shown potential to extend mineralization to depth at the Avan zone.
Raymond James 38th Annual Institutional Investors ConferenceAgnico Eagle Mines
The document provides forward-looking statements and notes regarding Agnico Eagle's presentation at the Raymond James 38th Annual Institutional Investors Conference in March 2017. It discusses Agnico Eagle's solid production base, high quality long life assets, and proven value creating strategy. It also summarizes Agnico Eagle's 2016 operating and financial highlights, 2016 exploration and reserve highlights, and track record of meeting production guidance. Finally, it notes Agnico Eagle mined below its average reserve grade in 2016 and successfully replaced reserves and resources with grades remaining unchanged.
The document provides an overview of Agnico Eagle's corporate update presentation from January 2018. It includes forward-looking statements and notes regarding non-GAAP measures. The summary highlights Agnico Eagle's growing production base, high quality long life assets, strategy of value creation, track record of meeting guidance, mineral reserves and resources, successful M&A and exploration adding value, and project pipeline expected to drive further production growth to 2 million ounces by 2020.
Bank of America Merrill Lynch 2016 Global Metals, Mining EventAgnico Eagle Mines
This document provides an overview of Agnico Eagle Mines Limited's presentation at the 22nd Annual Canada Mining Event hosted by Bank of America Merrill Lynch in September 2016. It contains forward-looking statements about Agnico Eagle's production guidance, costs, projects and growth plans. It also notes the risks associated with forward-looking statements and provides details on Agnico Eagle's non-GAAP financial measures and production guidance methodology. Finally, it highlights Agnico Eagle's strategy of value creation through consistent performance, production growth, high-quality reserves, exploration success and financial strength.
Agnico Eagle reported its first quarter 2016 results on April 29, 2016. The document provides forward-looking statements regarding Agnico Eagle's expectations for production, costs, capital expenditures, and other estimates. It notes that actual results may differ materially from expectations due to risks and uncertainties in the business. The document also explains non-GAAP measures used to evaluate performance such as total cash costs per ounce and all-in sustaining costs per ounce.
Agnico Eagle reported its fourth quarter and full year 2017 results. Some highlights include:
- Production guidance for 2018 of 1.75-1.8 million ounces of gold at total cash costs between $650-700 per ounce and AISC of $950-1000 per ounce.
- Continued progress on construction at the Meliadine and Amaruq projects in Nunavut, with production expected to begin in 2019.
- Exploration success at several mines, with potential to extend mine lives and add new resources.
- Agnico Eagle reported second quarter 2018 results with total payable gold production of 404,961 ounces and total cash costs per ounce of $656.
- Production guidance for 2018 was increased to 1.58 million ounces of gold from 1.53 million ounces previously.
- The Amaruq project received permit approval and preliminary construction work began, while the Meliadine project remains on schedule for first production in Q2 2019.
- LaRonde Zone 5 declared commercial production as of June 1, 2018 and the mine life at Lapa was extended until the fourth quarter of 2018.
- Agnico Eagle and Yamana Gold jointly acquired Osisko Mining Corporation on June 16, 2014 to form the Canadian Malartic General Partnership.
- Production guidance for 2014 was increased to 1.35-1.37 million ounces of gold with total cash costs forecasted between $650-675 per ounce.
- Exploration drilling at the IVR discovery near Meadowbank continues to expand the mineralization, with four mineralized zones now outlined and mineralization remaining open in all directions.
Raymond james-39th-annual-institutional-investors-conferenceAgnico Eagle Mines
- The document provides forward-looking statements regarding Agnico Eagle's operations, projects, production estimates, costs, and cash flows.
- It notes key assumptions underlying these statements and risks that could cause actual results to differ materially.
- Non-GAAP financial measures including total cash costs, all-in sustaining costs, and minesite costs are discussed and reconciled to IFRS measures.
This document provides an overview of Agnico Eagle Mines Limited's annual and special meeting on April 29, 2016. It includes forward-looking statements about production guidance, costs, and projects. It notes the risks associated with forward-looking statements and provides non-GAAP financial measures to assess performance. The company has a strong track record of exceeding production guidance and lowering costs. It is positioned for growth through optimizing existing operations, exploration success adding reserves, and a pipeline of development projects expected to increase production by 30-40% by 2020.
The LaRonde mine achieved record quarterly gold production of 105,345 ounces due to higher tonnage and grades from mining areas. Production guidance for 2017 was increased to over 1.68 million ounces of gold and unit costs were reduced based on strong year-to-date operational performance across Agnico Eagle's mines. Exploration continues at LaRonde to evaluate mining below current levels and infill drilling is ongoing to define higher grade mineralization in the western portions of the deposit.
This document provides an overview of Scotiabank's BBQ on August 15, 2014 and discusses Agnico Eagle's operations. It includes forward-looking statements about production guidance, costs, exploration results and studies. It also notes the acquisition of Osisko Mining Corporation and formation of a joint venture to operate the Canadian Malartic mine. Finally, it summarizes highlights and recent developments at Agnico Eagle's northern mines including LaRonde, Meadowbank, Canadian Malartic JV, and Kittila.
1) Agnico-Eagle Mines Limited provided a corporate update in April 2012 that included forward-looking statements and notes to investors.
2) The update discussed Agnico-Eagle's positioned to deliver enhanced leverage to gold through reserve growth, production growth, and net free cash flow. Gold production is expected to increase 24% from 2011 to 2014 from currently operating mines.
3) Financial details provided include $221 million in cash and cash equivalents as of December 31, 2011, $920 million in long-term debt, and $880 million in available credit facilities. Common shares outstanding were 170.3 million.
This corporate document provides an update for March 2011. It discusses forward-looking statements and the risks associated with them. Key points include increasing gold production to 1.5 million ounces by 2014, growing gold reserves to over 22 million ounces, acquiring smaller companies, maintaining low costs, and increasing net free cash flow and dividends per share. Operating results for 2010 show growing revenue diversified across six mines, with total gold production of 987,609 ounces and total cash costs of $451 per ounce. Financial results for 2010 were record levels of earnings and cash flow driven by production growth.
This document is an introduction and forward-looking statement from Agnico Eagle for their presentation at the Bank of America Merrill Lynch 21st Annual Canada Mining Conference in September 2015. It outlines key assumptions and risk factors for forward-looking production guidance, cost estimates, and timelines. It also provides notes to investors on the use of non-GAAP financial measures and production guidance included in the presentation.
The document provides an overview of Scotiabank's BBQ on August 18, 2015. It includes forward-looking statements about Agnico Eagle's expected future production, costs, projects, and studies. Highlights from the first half of 2015 include strong operating performance with 807,888 ounces of gold produced at total cash costs of $595 per ounce. Production guidance for 2015 is maintained at 1.6 million ounces with reduced costs. The Goldex Deep 1 project was approved to add 7 years of mine life. Drilling is expanding resources at Amaruq and the Vault extension could reduce the potential production gap with Amaruq.
Agnico Eagle reported its second quarter 2015 results. Key highlights included:
- Payable gold production of 403,678 ounces at total cash costs per ounce of $601.
- Production guidance for 2015 maintained at 1.6 million ounces with costs reduced.
- Approval of mining at the Vault Extension and Goldex Deep 1 projects expected to extend mine life.
- Infill drilling at Amaruq confirmed grades and thicknesses with mineralization extended to depth.
- Continued focus on debt reduction with $25 million repaid on the credit facility in Q2 2015.
Macquarie 2015 Global Metals, Mining % Materials Conference, New YorkAgnico Eagle Mines
This document provides an overview of Agnico Eagle's presentation at the Macquarie 2015 Global Metals, Mining & Materials Conference on June 10-11, 2015. It discusses Agnico Eagle's assets in Nunavut, Finland, Mexico, and the Abitibi Region, which are focused in four low-risk mining jurisdictions. Production is forecast to be approximately 1.6 million ounces in 2015 at a cash cost of $618 per ounce. The presentation also highlights Agnico Eagle's reserve quality, production and cost profile, opportunities to enhance future production, 2014 reserve highlights, and exploration/development pipeline.
The document provides forward-looking statements and production guidance for Agnico Eagle at the BMO Capital Markets 24th Global Metals and Mining Conference in February 2015. It notes key assumptions used in projections, such as metal prices and exchange rates, and risks that could impact projections. It also provides context on non-GAAP terms used, such as total cash costs per ounce and minesite costs per tonne, and reconciles them to GAAP financial reporting. Finally, it states that the gold production guidance is based on mineral reserves but includes contingencies, and does not reconcile exactly to reserve models due to factors like metal price and exchange rate assumptions.
- Agnico Eagle reported strong Q3 2014 operating performance with gold production of 349,273 oz and total cash costs of $716/oz.
- Production for 2014 is expected to exceed guidance and reach approximately 1.4 Moz, while 2015 guidance is increased to approximately 1.6 Moz due to higher forecasts at Meadowbank, Kittila, and Mexican operations.
- Upgrades at LaRonde, lower costs at Goldex, and optimization at Canadian Malartic position the Abitibi operations for increased performance going forward.
Agnico Eagle held a Denver Gold Forum in September 2016 to provide information to investors. The document included forward-looking statements about production guidance, costs, and other estimates. It noted the risks that actual results may differ from expectations due to uncertainties in metal prices, costs, and other factors. It also summarized the company's strategy of production growth from its existing assets, high-quality gold reserves with above-average grades, and exploration adding new resources.
The document provides an overview of Agnico Eagle's Kittila mine site visit in November 2016. Some key points:
- Kittila is Agnico Eagle's largest gold mine in Europe and has estimated reserves to continue operations through 2035.
- Underground development and mining rates are being optimized to fully access the Rimpi and newly discovered Sisar zones.
- Drilling in Q3 2016 yielded the widest intercept to date in the Sisar Central Zone of 6.6 g/t gold over 12.7 metres.
- The processing plant uses pressure oxidation in an autoclave to treat the refractory gold ore, followed by milling, flotation, leaching and electrowin
The Barsele Gold Project is located in northern Sweden near existing infrastructure. Agnico Eagle has a 55% interest in the project. Previous exploration identified gold mineralization at the Central, Avan, and Skiråsen zones. In 2015-2016, Agnico Eagle conducted drilling programs to expand and define these zones, with the goal of releasing an initial inferred resource estimate by the end of 2016. Drilling to date has shown potential to extend mineralization to depth at the Avan zone.
Raymond James 38th Annual Institutional Investors ConferenceAgnico Eagle Mines
The document provides forward-looking statements and notes regarding Agnico Eagle's presentation at the Raymond James 38th Annual Institutional Investors Conference in March 2017. It discusses Agnico Eagle's solid production base, high quality long life assets, and proven value creating strategy. It also summarizes Agnico Eagle's 2016 operating and financial highlights, 2016 exploration and reserve highlights, and track record of meeting production guidance. Finally, it notes Agnico Eagle mined below its average reserve grade in 2016 and successfully replaced reserves and resources with grades remaining unchanged.
The document provides an overview of Agnico Eagle's corporate update presentation from January 2018. It includes forward-looking statements and notes regarding non-GAAP measures. The summary highlights Agnico Eagle's growing production base, high quality long life assets, strategy of value creation, track record of meeting guidance, mineral reserves and resources, successful M&A and exploration adding value, and project pipeline expected to drive further production growth to 2 million ounces by 2020.
Bank of America Merrill Lynch 2016 Global Metals, Mining EventAgnico Eagle Mines
This document provides an overview of Agnico Eagle Mines Limited's presentation at the 22nd Annual Canada Mining Event hosted by Bank of America Merrill Lynch in September 2016. It contains forward-looking statements about Agnico Eagle's production guidance, costs, projects and growth plans. It also notes the risks associated with forward-looking statements and provides details on Agnico Eagle's non-GAAP financial measures and production guidance methodology. Finally, it highlights Agnico Eagle's strategy of value creation through consistent performance, production growth, high-quality reserves, exploration success and financial strength.
Agnico Eagle reported its first quarter 2016 results on April 29, 2016. The document provides forward-looking statements regarding Agnico Eagle's expectations for production, costs, capital expenditures, and other estimates. It notes that actual results may differ materially from expectations due to risks and uncertainties in the business. The document also explains non-GAAP measures used to evaluate performance such as total cash costs per ounce and all-in sustaining costs per ounce.
Agnico Eagle reported its fourth quarter and full year 2017 results. Some highlights include:
- Production guidance for 2018 of 1.75-1.8 million ounces of gold at total cash costs between $650-700 per ounce and AISC of $950-1000 per ounce.
- Continued progress on construction at the Meliadine and Amaruq projects in Nunavut, with production expected to begin in 2019.
- Exploration success at several mines, with potential to extend mine lives and add new resources.
- Agnico Eagle reported second quarter 2018 results with total payable gold production of 404,961 ounces and total cash costs per ounce of $656.
- Production guidance for 2018 was increased to 1.58 million ounces of gold from 1.53 million ounces previously.
- The Amaruq project received permit approval and preliminary construction work began, while the Meliadine project remains on schedule for first production in Q2 2019.
- LaRonde Zone 5 declared commercial production as of June 1, 2018 and the mine life at Lapa was extended until the fourth quarter of 2018.
- Agnico Eagle and Yamana Gold jointly acquired Osisko Mining Corporation on June 16, 2014 to form the Canadian Malartic General Partnership.
- Production guidance for 2014 was increased to 1.35-1.37 million ounces of gold with total cash costs forecasted between $650-675 per ounce.
- Exploration drilling at the IVR discovery near Meadowbank continues to expand the mineralization, with four mineralized zones now outlined and mineralization remaining open in all directions.
Raymond james-39th-annual-institutional-investors-conferenceAgnico Eagle Mines
- The document provides forward-looking statements regarding Agnico Eagle's operations, projects, production estimates, costs, and cash flows.
- It notes key assumptions underlying these statements and risks that could cause actual results to differ materially.
- Non-GAAP financial measures including total cash costs, all-in sustaining costs, and minesite costs are discussed and reconciled to IFRS measures.
This document provides an overview of Agnico Eagle Mines Limited's annual and special meeting on April 29, 2016. It includes forward-looking statements about production guidance, costs, and projects. It notes the risks associated with forward-looking statements and provides non-GAAP financial measures to assess performance. The company has a strong track record of exceeding production guidance and lowering costs. It is positioned for growth through optimizing existing operations, exploration success adding reserves, and a pipeline of development projects expected to increase production by 30-40% by 2020.
The LaRonde mine achieved record quarterly gold production of 105,345 ounces due to higher tonnage and grades from mining areas. Production guidance for 2017 was increased to over 1.68 million ounces of gold and unit costs were reduced based on strong year-to-date operational performance across Agnico Eagle's mines. Exploration continues at LaRonde to evaluate mining below current levels and infill drilling is ongoing to define higher grade mineralization in the western portions of the deposit.
This document provides an overview of Scotiabank's BBQ on August 15, 2014 and discusses Agnico Eagle's operations. It includes forward-looking statements about production guidance, costs, exploration results and studies. It also notes the acquisition of Osisko Mining Corporation and formation of a joint venture to operate the Canadian Malartic mine. Finally, it summarizes highlights and recent developments at Agnico Eagle's northern mines including LaRonde, Meadowbank, Canadian Malartic JV, and Kittila.
1) Agnico-Eagle Mines Limited provided a corporate update in April 2012 that included forward-looking statements and notes to investors.
2) The update discussed Agnico-Eagle's positioned to deliver enhanced leverage to gold through reserve growth, production growth, and net free cash flow. Gold production is expected to increase 24% from 2011 to 2014 from currently operating mines.
3) Financial details provided include $221 million in cash and cash equivalents as of December 31, 2011, $920 million in long-term debt, and $880 million in available credit facilities. Common shares outstanding were 170.3 million.
This corporate document provides an update for March 2011. It discusses forward-looking statements and the risks associated with them. Key points include increasing gold production to 1.5 million ounces by 2014, growing gold reserves to over 22 million ounces, acquiring smaller companies, maintaining low costs, and increasing net free cash flow and dividends per share. Operating results for 2010 show growing revenue diversified across six mines, with total gold production of 987,609 ounces and total cash costs of $451 per ounce. Financial results for 2010 were record levels of earnings and cash flow driven by production growth.
Corporate update John Tumazos Very Independent Research March 31, 2014Agnico Eagle Mines
Agnico Eagle provided a corporate update on March 31, 2014. Key highlights included record annual gold production in 2013 of 1.1 million ounces at total cash costs of $672 per ounce. Production is forecast to grow 16% through 2016 to 1.275 million ounces. Capital spending is expected to decline to $416 million in 2014. Cash costs and all-in sustaining costs are forecast to be $678 and $990 per ounce respectively in 2014, trending lower going forward. Agnico Eagle has a strong balance sheet with $170 million in cash and $1 billion in available credit to provide financial flexibility.
The document provides an overview of Agnico Eagle Mines Limited's fourth quarter and full year 2013 results. Some key points:
- Record annual gold production of 1.10 million ounces, exceeding guidance of 1.06 million ounces. Total cash costs were $672 per ounce, below guidance of $690.
- Commercial production was declared at the Goldex mine and commissioning is on track at La India.
- A non-cash impairment charge of $436 million was recorded due to the lower gold price environment. The quarterly dividend was also reduced.
- Production is expected to grow moderately through 2016 according to estimates. Capital expenditures are projected to remain at manageable levels.
- Pro
Agnico Eagle reported record quarterly gold production of 366,421 ounces with total cash costs of $537 per ounce in Q1 2014. Production was particularly strong at Meadowbank, with 156,444 ounces produced at a total cash cost of $434 per ounce. Agnico Eagle expects to exceed its 2014 production guidance of 1.205 million ounces and remain below the lower end of its cash cost forecast of $670 per ounce. The company also announced a joint acquisition with Yamana Gold of Osisko Mining Corporation on April 16, 2014.
The document provides an overview of Agnico Eagle Mines Limited's Denver Gold Forum presentation in September 2013. It discusses forward-looking statements and risks, notes to investors regarding non-GAAP financial measures and production guidance, and provides summaries of each of Agnico Eagle's mine sites highlighting reserves, resources, production profiles, and capital expenditure plans. The presentation focuses on Agnico Eagle's strategies to adapt to the current volatile gold market through cost reductions, production growth, and maintaining financial flexibility.
The document provides an overview of Agnico Eagle's mining operations in Mexico, including Pinos Altos, Creston Mascota, and La India. Pinos Altos is the company's cornerstone operation in Mexico, producing over 234,000 ounces of gold in 2012. La India began commissioning less than two years after acquisition and is expected to produce approximately 90,000 ounces per year. The company has over 1,500 employees in Mexico and has had a successful partnership, contributing to the local economy and community. Agnico Eagle controls a large land position in Mexico that provides exploration upside potential.
Agnico-Eagle Mines Limited provided a corporate update presentation in March 2010. The presentation discussed Agnico-Eagle's strategy of increasing gold production through internal expansions, growing gold reserves, acquiring early stage projects, maintaining low costs, and solid financial positioning. It also provided an operations update on improved performance in Q4 2009 at all mines, rising production and earnings, a strong financial position, and industry leading gold production growth estimates through potential internal expansions.
- Agnico-Eagle Mines reported fourth quarter 2009 results on February 17, 2010
- Gold production in Q4 2009 was 163,276 ounces, up 83% from Q4 2008, with total cash costs of $297/ounce
- Issues that lowered production and increased costs in Q3 2009 at some mines were largely resolved by Q4
- The company is now a multi-mine international gold producer with 6 operating mines and production expected to grow to over 1 million ounces annually through expansions
Agnico Eagle Mines reported first quarter 2013 results with gold production of 236,975 ounces at a total cash cost of $740 per ounce. Cash flow from operations was $146 million. Production and costs were in line with expectations. The company's Goldex and La India projects remain ahead of schedule with initial production expected in Q4 2013 and commissioning beginning late Q4 2013 respectively. Kittila's scheduled mill maintenance was extended resulting in reduced 2013 production estimates.
The Nunavut Experience Mining and Exploring North of 60Agnico Eagle Mines
The document discusses permitting for mining and exploration projects in Nunavut, Canada. It notes that [1] Inuit organizations own subsurface and surface rights to portions of the land in Nunavut. [2] Key Inuit organizations that must be engaged with for agreements include Nunavut Tungavik Incorporated and regional Inuit organizations. [3] Permitting for exploration projects in Nunavut involves engaging with both Inuit organizations and various federal and territorial government bodies.
The document provides an update on Agnico Eagle Mines for August 2016. It includes forward-looking statements and notes of caution regarding the use of non-GAAP measures in financial presentations. The update discusses Agnico Eagle's consistent strategy of production growth, high quality gold reserves with above peer average grades, strong balance sheet, and exploration as a value driver. It also provides highlights on recent operational and financial results and production guidance into 2019 and beyond.
- Agnico Eagle reported its third quarter 2015 results on October 29, 2015.
- The document discusses forward-looking statements regarding production guidance, costs, and expansion projects and contains risks and assumptions.
- It also notes that certain measures used are non-GAAP measures and provides reconciliations to IFRS, and that production guidance is based on reserves but includes contingencies and different price assumptions than reserves.
Agnico Eagle reported its fourth quarter and full year 2016 results. Key highlights included:
1) Continued strong operating performance in 2016 with gold production exceeding guidance and lower than expected costs.
2) The Amaruq satellite deposit at Meadowbank and the Meliadine project were approved for development with both expected to start up in Q3 2019.
3) A four-year production guidance was issued with gold production expected to increase from current levels to 2 million ounces by 2020 and unit costs expected to decline over that period.
The document discusses Agnico Eagle's third quarter 2016 results. It provides forward-looking statements regarding production guidance, projects, and costs. It notes the risks and assumptions underlying the forward-looking statements. It also discusses non-GAAP measures used to evaluate performance such as total cash costs per ounce and all-in sustaining costs per ounce.
- Agnico Eagle provides a corporate update for November 2016, outlining its consistent strategy and solid execution that drives superior per share returns.
- Production is expected to grow to approximately 2.0 million ounces of gold in 2020 from its existing asset base.
- Agnico Eagle has high quality gold reserves with an average grade more than double that of North American peers that will support production growth.
- Exploration continues to be a key value driver, with several prospects delivering results.
Operations continue to deliver strong performance in the second quarter of 2017, with total gold production of 427,743 ounces and total cash costs per ounce of $556. Infill and exploration drilling at multiple properties, including LaRonde and Amaruq, yielded positive results that are expected to result in mineral resource additions and conversions. The Meliadine project is progressing on schedule and budget, with underground development ahead of plan and engineering 80% complete at the end of June 2017.
- Agnico Eagle provides a corporate update for September 2016, outlining key points such as production growth targets, high quality gold reserves, ongoing exploration success, and a strong balance sheet.
- The company has a goal of producing over 2 million ounces of gold annually by 2020 through exploiting its existing asset base, which contains high average grade reserves over double the industry average.
- Exploration continues to deliver value by expanding reserves and resources at mines such as Kittila, Meadowbank, Meliadine, Pinos Altos, and La India.
- The document is a presentation from Agnico Eagle Mines Limited given at a Scotia BBQ on August 18, 2016.
- It discusses Agnico Eagle's forward-looking statements and production guidance, provides an overview of the company's strong financial position and long history of dividend payments, and outlines its growth strategy through projects in its development pipeline.
- Agnico Eagle has successfully grown production and reserves through acquisitions and exploration over the past decade and expects its project pipeline to drive a new phase of 30-40% production growth by 2020.
BMO Capital Markets 26th Global Metals & Mining ConferenceAgnico Eagle Mines
- The document discusses Agnico Eagle's forward-looking statements and provides context for non-GAAP financial measures used. It notes key assumptions and risks that could impact projections.
- Agnico Eagle exceeded 2016 production guidance of 1.6 million ounces at total cash costs of $600 per ounce. Production was 1.66 million ounces at total cash costs of $573 per ounce.
- New four-year guidance forecasts production growth to over 2 million ounces in 2020 as the Amaruq and Meliadine projects come online. Costs are expected to decline as production increases.
This document provides forward-looking statements and notes to investors regarding Agnico Eagle's corporate update presentation at the Scotiabank Mining Conference in December 2017. It outlines key assumptions and risk factors for Agnico Eagle's projections, including commodity prices, production estimates, costs estimates, currency fluctuations, and permitting/development timelines. It also notes that certain terms used in the presentation, such as total cash costs per ounce and all-in sustaining costs per ounce, are non-GAAP measures and provides reconciliations to IFRS measures.
Agnico Eagle reported strong results for the second quarter of 2016, including:
- Gold production of 408,932 ounces at total cash costs of $592 per ounce
- Increased 2016 production guidance to 1.58-1.6 million ounces at lower costs
- Repaid $210 million credit facility balance and $20 million loan, reducing net debt to $742 million
- Declared a 25% increased quarterly dividend to $0.10 per share
- Agnico Eagle reported strong fourth quarter and full year 2015 results, exceeding annual gold production guidance for the fourth consecutive year.
- For 2016, the company expects gold production of 1.525-1.565 million ounces at total cash costs of $590-630 per ounce, with continued stable production and costs through 2018.
- Significant increases in gold resources were reported at the Amaruq, El Barqueño, and Sisar Zone projects, which could support future production growth beyond 2019.
This document provides an overview of Agnico Eagle's European Gold Forum presentation in Zurich in April 2016. It includes forward-looking statements about production guidance and costs. It also notes that total cash costs, all-in sustaining costs, and minesite costs per tonne are non-GAAP measures and provides definitions for these terms. Finally, it directs readers to Agnico Eagle's regulatory filings for further information.
Bank of America Merrill Lynch 2016 Global Metals, Mining & Steel ConferenceAgnico Eagle Mines
This document is from Agnico Eagle's presentation at the 2016 Bank of America Merrill Lynch Global Metals, Mining & Steel Conference in May 2016. It includes forward-looking statements regarding Agnico Eagle's estimated production metrics, costs, and project timelines that are based on certain assumptions that may prove to be incorrect. It also notes that certain non-GAAP financial measures are used such as total cash costs per ounce and all-in sustaining costs per ounce, and provides definitions for these terms. The presentation contains cautionary language regarding the risks and uncertainties inherent in forward-looking information.
- Agnico Eagle exceeded gold production guidance for the fourth consecutive year, producing 1.671 million ounces of gold in 2015 at total cash costs of $567 per ounce.
- Stable production of approximately 1.53 million ounces per year is expected from 2016-2018, with 2016 guidance of 1.525-1.565 million ounces at total cash costs of $590-630 per ounce.
- Gold reserve grades increased at key mines in 2015 and significant increases in measured, indicated, and inferred gold resources were reported, while gold reserves declined only slightly.
2. AGNICO EAGLE | CORPORATE UPDATE | 2
FORWARD LOOKING STATEMENTS
The information in this presentation has been prepared as a December 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 and are referred to herein as “forward-looking statements”. When used in this document, the words “anticipate”, “expect”,
“estimate”, “forecast”, “will”, “planned” and similar expressions are intended to identify forward-looking statements. Such statements include without limitation: the
Company's forward-looking production guidance, including estimated ore grades, project timelines, drilling results, metal production, mine estimates horizons,
production, total cash costs per ounce, minesite costs per tonne; all-in sustaining costs and cash flows; the estimated timing and conclusions of technical reports
and other studies; the methods by which ore will be extracted or processed; statements concerning expansion projects, recovery rates, mill throughput, and
projected exploration expenditures, including costs and other estimates upon which such projections are based; estimates of depreciation expense, general and
administrative expense and tax rates; the impact of maintenance shutdowns; 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 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 and other statements
and information regarding anticipated trends with respect to the Company's operations, exploration and the funding thereof. 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 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 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 by-product 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 | CORPORATE UPDATE | 3
NOTES TO INVESTORS
Note Regarding the Use of Non-GAAP Financial Measures
This presentation discloses certain measures, including ‘‘total cash costs per ounce’’ and ‘‘minesite costs per tonne’’ that are not recognized measures under IFRS.
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 IFRS and for an explanation of how management uses these measures,
see “Reconciliation of Non-GAAP Financial Performance Measures” below. Total cash costs per ounce of gold produced is presented on both a by-product basis
(deducting by-product metal revenues from production costs) and co-product basis (before by-product metal revenues). Total cash costs per ounce of gold produced
on a by-product basis is calculated by adjusting production costs as recorded in the consolidated statements of income (loss) for by-product revenues, unsold
concentrate inventory production costs, smelting, refining and marketing charges and other adjustments, and then dividing by the number of ounces of gold
produced. Total cash costs per ounce of gold produced on a co-product basis is calculated in the same manner as total cash costs per ounce of gold produced on a
by-product basis except that no adjustment for by-product metal revenues is made. Accordingly, the calculation of total cash costs per ounce of gold produced on a
co-product basis does not reflect a reduction in production costs or smelting, refining and marketing charges associated with the production and sale of by-product
metals. Total cash costs per ounce of gold produced is intended to provide information about the cash generating capabilities of the Company’s mining operations.
Management also uses these measures to monitor the performance of the Company’s mining operations. As market prices for gold are quoted on a per ounce
basis, using the total cash cost per ounce of gold produced on a by-product basis measure allows management to assess a mine’s cash generating capabilities at
various gold prices. Management is aware that these per ounce measures of performance can be affected by fluctuations in and exchange rates. and, in the case of
total cash costs per ounce of gold produced on a by-product basis, by-product metal prices. Management compensates for these inherent limitations by using these
measures in conjunction with minesite costs per tonne (discussed below) as well as other data prepared in accordance with IFRS. Management also performs
sensitivity analyses in order to quantify the effects of fluctuating exchange rates and metal prices. This presentation also contains information as to estimated future
total cash costs per ounce, all-in sustaining costs and minesite costs per tonne. The estimates are based upon the total cash costs per ounce, all-in sustaining costs
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-GAAP financial measures to the most comparable IFRS 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 | CORPORATE UPDATE | 4
AGNICO EAGLE – A QUALITY GOLD MINING BUSINESS
RUNNING A
MANAGEABLE
BUSINESS
Delivering
on
Production
Guidance
~14%
Expected
Production
Growth in
2015
2015 AISC
expected to
decline by
6% from 2014
level
Highest
Reserve
Grade
Amongst
North
American
Peers
Balance
Sheet
Flexibility
Low Share
Count after
57 Years
32 years
of
Consecutive
Dividend
Payments
Low Political
Risk
Advanced
Exploration
Projects to
Drive Future
Value
Experienced
Management
with Diversified
Technical
Expertise
5. AGNICO EAGLE | CORPORATE UPDATE | 5
Strong production growth with declining unit costs
Production forecast to increase ~14% to 1.6 Mozs in 2015. 2015 AISC expected to decline ~6% from 2014 level of $990/oz
Weaker C$ and Euro drive US$ unit costs lower
Generating net free cash flow at $1,100/oz gold price
Future Expansion Capital Requirements Manageable
Kittila plant expansion completed in Q3 2014
Pinos shaft – completion expected in Q4 2015
Goldex deep zone – accelerated ramp development with goal of outlining mineable reserves by late 2015 or early 2016
Amaruq/Meliadine – less capital intensive options possible to sustain Nunavut business
Financial Flexibility
Net debt of approximately $1.2 billion – investment grade credit rating; Reasonable term debt repayment schedule
Credit lines extended and covenants reduced - $700 million undrawn
Key Value Drivers require only moderate expenditures
El Barqueno - $15 million exploration program in 2015 expected to generate initial resource estimate thereafter
Amaruq - $20 million exploration program in 2015, maiden gold resource estimate in early 2015
WELL POSITIONED IN A CHALLENGING GOLD PRICE ENVIRONMENT
6. AGNICO EAGLE | CORPORATE UPDATE | 6
3.64
2.36
1.22 1.22 1.17
1.02 0.99 0.98
0.79 0.76
GOLD AEM* ABX AVERAGE EGO NEM IAG GG AUY KGC
Approximately
of Agnico’s gold reserves have forecast total
cash costs below $950/oz and
have forecast total cash costs
below $700/oz
AEM reserves of 16.9 million ozs decline by approximately 5% at
$1,050**
Canadian Malartic reserves of 4.5 million ozs decline by
approximately 7% at 1,100**
89%
64%
HIGHEST RESERVE GRADE AMONGST NORTH AMERICAN PEERS
Reserve Grade (g/t)
Source: Bloomberg, company reports
*Includes Canadian Malartic
** AEM reserves of as of December 31, 2014 at $1,200/oz gold, Canadian Malartic reserves as of June 15, 2014 at $1,300/oz gold
Note: Estimates not based on detailed mining plans
and excludes Canadian Malartic
7. AGNICO EAGLE | CORPORATE UPDATE | 7
Upgraded hoist drives at LaRonde, lower than expected costs at Goldex, and continued
optimization at Canadian Malartic position the Québec operations for anticipated increased
performance
Recently completed expansion at Kittila in Finland expected to result in increased production
in 2015
New Amaruq discovery in Nunavut could potentially extend the Meadowbank mine life. Initial
resource expected in early 2015
The recently acquired El Barqueño property could develop into a significant Mexican
production asset. A $15 million exploration program has been proposed for 2015
Production for 2014 expected to be approximately 1.4 Moz which exceeds top end of
guidance of 1.37 Moz released in second quarter 2014
Production guidance for 2015 expected to be approximately 1.6 Moz Increase over previous
guidance driven by higher production forecasts at Meadowbank, Kittila and the Mexican
operations
STRENGTHENING OF OPERATING REGIONS LEADS TO INCREASED
PRODUCTION GUIDANCE FOR 2014 AND 2015
12. AGNICO EAGLE | CORPORATE UPDATE | 12
Nunavut
Finland
Mexico
Quebec, Ontario NORTHERN
BUSINESS
SOUTHERN
BUSINESS
BUSINESS FOCUSED IN FOUR LOW RISK MINING JURISDICTIONS
2014E Gold Production
Northern Business Southern Business
1.4M
ounces
$663
$990
2014E Cash Costs 2014E AISC
13. AGNICO EAGLE | CORPORATE UPDATE | 13
LARGEST GOLD PRODUCER IN THE ABITIBI REGION
FOUR MINES WITHIN 50 KILOMETRES
14. AGNICO EAGLE | CORPORATE UPDATE | 14
CANADA
SOLID AND GROWING PRODUCTION BASE IN QUEBEC
PRODUCTION Q3 YTD 2014 HIGHLIGHTS
LARONDE
145,336 ozs
at a total cash cost of
$701/oz
Mined gold grade forecast to increase towards the average
reserve grade as the level 293 pyramid advances to maturity
Installation of coarse ore conveyor remains on schedule and
budget for start up in 2H 2015 and studies underway to
investigate potential to add reserves and mine below 3.1 km
depth
CANADIAN
MALARTIC GP
76,639 ozs
at a total cash cost of
$717/oz
Minesite costs per tonne have been better than the guidance
of C$21 per tonne (excluding royalties) largely due to better
productivity. Additional programs and studies are underway to
optimize the mine
GOLDEX
70,970 ozs
at a total cash cost of
$661/oz
Accelerated development of the exploration ramp into the
Deep zone is underway to provide access for additional
exploration drilling with the goal of outlining mineable reserves
by late 2015 or early 2016
The successful Goldex mining approach may also open up
other mining opportunities in the Abitibi region
LAPA
67,011 ozs
at a total cash cost of
$689/oz
Development of the Zulapa Zone 7 (approximately 100 metres
into the hanging wall of the main Lapa mining zone) is ahead
of schedule with the first stope planned for Q4 2014
Development of Zulapa Zone 8 being prioritized
EXPLORATION AND DEVELOPMENT
GOLDEX
SATELLITES
Development is progressing on the M2, M5 and E2 satellite zones
Ramp into the top of the D zone has been accelerated to provide access for additional
exploration drilling
Akasaba west project feasibility study expected by year end 2014
New satellite zones have the potential to extend the mine life or increase production
15. AGNICO EAGLE | CORPORATE UPDATE | 15
LARONDE - PRODUCTION INCREASE DRIVEN BY HIGHER GRADES
Approximately 80% of ore now
accessed from below level 215
Three mining horizons now
operational providing improved
access to higher grade
reserves
Annual gold production
expected to exceed 300,000
ozs by mid 2016
Deposit continues to expand at
depth
16. AGNICO EAGLE | CORPORATE UPDATE | 16
GOLDEX DEEP ZONE RAMP DEVELOPMENT ACCELERATED
DEVELOPMENT OF ADDITIONAL SATELLITES COULD POTENTIALLY EXTEND MINE LIFE
• Development is progressing on the
M2, M5 and E2 satellite zones
• New surface portal has been collared
and 50% of pre-existing ramp has
been refurbished to access M3 and
M4 satellites zones
• Work accelerated on Deep zone with
goal of outlining a mineable reserve
and completion of a technical study by
late 2015 or early 2016
• Development of additional satellites
could potentially extend mine life and
improve costs given the mill has
capacity for 8,000 tpd
17. AGNICO EAGLE | CORPORATE UPDATE | 17
CANADIAN MALARTIC GP (50% INTEREST)
QUARTERLY RECORDS FOR MILL THROUGHPUT AND MINE PRODUCTIVITY
On June 16, 2014, Agnico Eagle and Yamana Gold
each acquired a 50% interest in Osisko Mining and
formed a joint committee to operate the Canadian
Malartic mine
Ounce reconciliation with the block model
continues to be positive (3% to 4% higher), and
could have a favourable impact on the quantity of
gold produced going forward
Minesite costs per tonne have been better than the
guidance of C$21 per tonne (excluding royalties)
largely due to better productivity. Additional
programs and studies are underway to optimize
the mine
This year’s capital costs (on a 100% basis) have
been reduced by approximately C$14.7 million due
to optimization of the Gouldie pit and minor
deferrals into 2015
19. AGNICO EAGLE | CORPORATE UPDATE | 19
NUNAVUT
ARCTIC PLATFORM – MORE OPTIONS TO GROW PRODUCTION AND RESERVES
PRODUCTION Q3 YTD 2014 HIGHLIGHTS
MEADOWBANK
366,162 ozs
at a total cash cost of
$561/oz
Gold production in Q4 2014 expected to be in line with Q3
2014
Production in 2015 is forecast to significantly exceed prior
guidance of 375,000 ounces due to expected strong grade
cycle in the Portage pit
EXPLORATION AND DEVELOPMENT
MELIADINE YTD, exploration ramp has been extended by 789 metres and remains on track to reach
targeted depth of 225 metres by year end
Updated technical study scheduled in early 2015
AMARUQ
2014 Exploration drilling (144 drill holes totaling 31,598 metres) has expanded the scope of the
mineralization at the Amaruq property, which is located about 50 km to the northwest of
Meadowbank
A maiden resource is expected at Amaruq in early 2015
20. AGNICO EAGLE | CORPORATE UPDATE | 20
AMARUQ DISCOVERY NEAR MEADOWBANK CONTINUES TO EXPAND
FIVE MINERALIZED ZONES HAVE BEEN OUTLINED – MINERALIZATION OPEN IN ALL DIRECTIONS
21. AGNICO EAGLE | CORPORATE UPDATE | 21
AMARUQ PROJECT
ELECTROMAGNETIC SURVEY FOR AREA OF CURRENT ACTIVITIES
22. AGNICO EAGLE | CORPORATE UPDATE | 22
FINLAND
European gold mine production, MozRegional Overview
KITTILA - A SIGNIFICANT EUROPEAN PRODUCER WITH LONG LIFE RESERVES
-
0.05
0.10
0.15
0.20
0.25
0.30
2010 2011 2012 2013
Kittila Finland Sweden Bulgaria Other
Source: Metals Focus - 2014 Annual Gold and Silver Mining Focus
23. AGNICO EAGLE | CORPORATE UPDATE | 23
FINLAND
25% PLANT EXPANSION COMPLETED
PRODUCTION Q3 YTD 2014 HIGHLIGHTS
KITTILA
98,612 ozs
at a total cash cost of
$861/oz
Major tie-ins related to mill expansion completed, production in
Q4 2014 expected to return to normal levels
EXPLORATION AND DEVELOPMENT
RIMPI
DEVELOPMENT
Ramp development continues, which allows access for deeper drilling, and advancement of the
Rimpi zone to provide additional mill feed in order to enhance the production profile
24. AGNICO EAGLE | CORPORATE UPDATE | 24
DEEP DRILLING EXTENDS SUURI ZONE AT DEPTH
MINERALIZATION APPEARS OPEN APPROXIMATELY 240M BELOW CURRENT RESERVES
ROD14-002C
6.81 g/t Au / 6.4 m
Incl. 12.0 g/t Au / 2.2 m
25. AGNICO EAGLE | CORPORATE UPDATE | 25
MEXICO – THREE MINES AND TWO ADVANCED EXPLORATION PROJECTS
Annual AEM Mexico Production and CostsRegional Overview
GROWING PRODUCTION WITH LOW AND STABLE COSTS
$10
$30
$50
$70
$90
$110
$130
$150
-
50
100
150
200
250
2010 2011 2012 2013
Production (koz) Costs ('000)
La India
Pinos Altos
& Mascota
26. AGNICO EAGLE | CORPORATE UPDATE | 26
SOUTHERN BUSINESS – MEXICO
GENERALLY LOWER CAPITAL COST ASSETS WITH POTENTIAL FOR SIGNIFICANT
CASH FLOW GENERATION
PRODUCTION Q3 YTD 2014 HIGHLIGHTS
PINOS ALTOS
130,350 ozs
at a total cash cost of
$513/oz
Shaft sinking activities continued during the quarter and
remain on budget for completion in Q4 2015
Shaft currently excavated to a depth of 416 metres with the
ultimate shaft depth expected to be 793 metres
CRESTON
MASCOTA
34,853 ozs
at a total cash cost of
$587/oz
New agglomerator and overland conveyors in full operation
during Q3 resulting in increased throughput of approximately
25%
Improvements are being made to the carbon columns and the
leach pumping system, which are expected to have a positive
impact on recoveries
LA INDIA
51,820 ozs
at a total cash cost of
$483/oz
Planned modifications to the crushing and stacking circuits
were completed during the third quarter
Block model has yielded slightly more ore than planned, which
has had a positive impact on both production and costs
EXPLORATION AND DEVELOPMENT
TARACHI AND
LA INDIA
At La India, Geophysical surveys have outlined several potential porphyry bodies. Initial drilling
of the Arroyo Hondo target has returned values of up to 75 metres with grades of 0.78 g/t Au,
which has the potential to extend the mine life or expand production
27. AGNICO EAGLE | CORPORATE UPDATE | 27
EXPLORING BULK TONNAGE PORPHYRY TARGETS CLOSE TO LA INDIA
SUCCESSFUL EXPLORATION COULD LEAD TO INCREASED PRODUCTION
Both high Sulphidation and Porphyry targets have
been defined to date
Drill highlights include:
AH-13-010 0.33 g/t Au over 111m
AH-14-014 0.27 g/t Au over 347m incl. 0.87 g/t Au over
35.7m
AH-14-025 0.78 g/t Au over 67m
28. AGNICO EAGLE | CORPORATE UPDATE | 28
CAYDEN ACQUISITION COMPLETED
EL BARQUEÑO AND MORELOS SUR ADD SIGNIFICANT POTENTIAL TO SOUTHERN BUSINESS
Cayden acquired for approximately 4.86 million shares (2.3% dilution)
Focus will be on the El Barqueño Property, which is a historical mining region with multiple
deposits/targets outlined to date
Potential to delineate mineralization over an eight kilometer strike length
$15 million exploration program anticipated in 2015, first maiden resource expected thereafter
29. AGNICO EAGLE | CORPORATE UPDATE | 29
MORELOS SUR PROPERTY
STRATEGICALLY LOCATED IN THE GUERRERO GOLD BELT
Three attractive exploration concessions: La Magnetita, Tenantla and Las Calles
Previous exploration has outlined a 25 km2 gold soil anomaly at La Magnetita and Tenantla
The Las Calles property has yielded drill intersections of up to 3.21 g/t gold and 84 g/t silver over 28.5
metres
30. AGNICO EAGLE | CORPORATE UPDATE | 30
0%
500%
1000%
1500%
2000%
AEM US Equity XAU IndexGold Spot
AEM US Equity
CAGR
9.04%
Gold Spot
CAGR
8.62%
XAU Index
CAGR
-0.57%
INDEXED SHARE PERFORMANCE SINCE 1998
AGNICO EQUITY POISED FOR OUTPERFORMANCE
Source: Bloomberg
36. AGNICO EAGLE | CORPORATE UPDATE | 36
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”. Investors are advised 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”. Investors are advised 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
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 Mines Limited reports mineral resource and reserve estimates in accordance with the CIM guidelines for the estimation, classification and
reporting of resources and reserves in accordance with the Canadian securities regulatory authorities' (the "CSA") National Instrument 43-101 Standards of Disclosure for Mineral
Projects ("NI 43-101"). These standards are similar to those used by the SEC’s Industry Guide No. 7, as interpreted by Staff at the SEC ("Guide 7"). However, the definitions in NI 43-
101 differ in certain respects from those under Guide 7. Accordingly, mineral reserve information contained herein may not be comparable to similar information disclosed by U.S.
companies. Under the requirements of the SEC, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be
economically and legally produced or extracted at the time the reserve determination is made. A "final" or "bankable" feasibility study is required to meet the requirements to designate
reserves under Industry Guide 7. Agnico Eagle uses certain terms in this news 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.
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.
For the reserves estimate at the jointly owned Canadian Malartic mine as of June 15, 2014, reported by the Company in a news release dated August 13, 2014, Agnico Eagle and
Yamana Gold have decided to use the assumptions of $1,300 per ounce gold, a cut-off grade between 0.28 g/t and 0.35 g/t (depending on the deposit), and a C$/US$ exchange rate
of 1.10.
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.
37. AGNICO EAGLE | CORPORATE UPDATE | 37
NOTES TO INVESTORS REGARDING THE USE OF RESOURCES
A mineral reserve is the economically mineable part of a measured and/or indicated mineral resource. It includes diluting materials and allowances for losses, which may occur when
the material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors. Such studies demonstrate
that, at the time of reporting, extraction could reasonably be justified.
Modifying factors are considerations used to convert mineral resources to mineral reserves. These include, but are not restricted to, mining, processing, metallurgical, infrastructure,
economic, marketing, legal, environmental, social and governmental factors.
A proven mineral reserve is the economically mineable part of a measured mineral resource. A proven mineral reserve implies a high degree of confidence in the modifying factors. A
probable mineral reserve is the economically mineable part of an indicated and, in some circumstances, a measured mineral resource. The confidence in the modifying factors applying
to a probable mineral reserve is lower than that applying to a proven mineral reserve.
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earth's crust in such form, grade or quality and quantity that there are reasonable
prospects for eventual economic extraction. The location, quantity, grade or quality, continuity and other geological characteristics of a mineral resource are known, estimated or
interpreted from specific geological evidence and knowledge, including sampling.
A measured mineral resource is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics are estimated with confidence
sufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit. Geological evidence is derived from
detailed and reliable exploration, sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation. An indicated mineral
resource is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics are estimated with sufficient confidence to allow the
application of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit. Geological evidence is derived from adequately
detailed and reliable exploration, sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation. An inferred mineral resource
is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to
imply but not verify geological and grade or quality continuity.
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
applicable modifying factors 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 document is December 31, 2013 except for the Canadian Malartic mine where the effective
date of the estimates is June 15, 2014. 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 Technical Reports, which may be found at www.sedar.com. Other important operating information can be found in the Company's AIF and Form 40-F.
The scientific and technical information relating to Agnico Eagle’s reserves and resources contained herein has been approved by Daniel Doucet, Corporate Director, Reserve
Development. Mr. Doucet is a designated P.Eng. with the Ordre ingenieurs du Québec and a qualified person as defined by NI 43-101.