- 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.
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.
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.
Royal gold presentation egf - final screenRoyalGold
- Royal Gold provides concise summaries of key documents in 3 sentences or less.
- The document is a presentation from Royal Gold's CFO and Treasurer given at the European Gold Forum on April 5, 2017 that discusses Royal Gold's business model, margins, growth, and portfolio of streaming and royalty assets.
- The presentation highlights Royal Gold's high margins, embedded growth from recent transactions, optionality from operator activities, and track record of industry-leading returns through production growth and dividend increases.
The document presents the results of a definitive feasibility study for expanding the Asanko Gold Mine's processing capacity. The expansion plan includes two modular phases: doubling processing to 5 million tonnes per year (Project 5 Million), and further doubling it to 10 million tonnes per year (Project 10 Million). Project 5 Million requires $150 million in capital and is expected to produce 230,000 ounces of gold per year at an all-in sustaining cost of $968 per ounce over a 20-year life of mine. Project 10 Million would require total expansion capital of $350 million and produce over 450,000 ounces of gold annually at $890 per ounce over an 8-year period.
1) The Brucejack high-grade gold project in British Columbia is fully-permitted and construction is underway, with commercial production targeted for 2017.
2) The mine is expected to produce over 7 million ounces of gold over an 18-year mine life at an average grade of over 15 grams per tonne and average annual production of over 500,000 ounces.
3) Construction financing of US$540 million was secured in September 2015, funding over 70% of the estimated US$746 million in capital costs.
The August 2017 Corporate Presentation provides an overview of Alamos Gold Inc. It cautions readers that certain statements in the presentation regarding forecasts, estimates, potential mineralization, and future plans and objectives are forward-looking statements that involve risks and uncertainties. It also notes that figures presented are in US dollars unless otherwise indicated, and provides information on non-GAAP measures and additional GAAP measures used. The presentation highlights Alamos Gold's diversified gold production, expanding margins, peer-leading growth portfolio, and strong balance sheet with no debt.
This document provides an overview of Detour Gold Corporation's operations and growth plans. Some key points:
- Detour Gold is a Canadian intermediate gold producer with over 16 million ounces of gold reserves and plans to produce between 540,000 to 590,000 ounces of gold in 2016.
- The company is focused on optimizing its Detour Lake mine and mill to increase production capacity while lowering costs. Plans include improving mining rates, plant throughput, and evaluating processing additional ore sources.
- Organic growth opportunities include developing the West Detour open pit in 2019 and advancing the high-grade Zone 58N deposit.
- Detour Gold aims to reduce debt and maintain a strong balance sheet to fund
Corporate presentation january 2017 v finalnewgold2011
This corporate presentation provides cautionary statements regarding forward-looking information in the document. It notes that all dollar amounts are in US dollars unless otherwise stated. It also outlines key assumptions and risk factors that could cause actual results to differ from forward-looking statements. Forward-looking statements include production guidance, resource and reserve estimates, construction timelines and costs for the Rainy River project, and other operating parameters. These statements are based on certain material assumptions regarding the business, including around political and economic conditions, commodity prices, exchange rates, costs, and permitting. However, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from expectations.
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.
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.
Royal gold presentation egf - final screenRoyalGold
- Royal Gold provides concise summaries of key documents in 3 sentences or less.
- The document is a presentation from Royal Gold's CFO and Treasurer given at the European Gold Forum on April 5, 2017 that discusses Royal Gold's business model, margins, growth, and portfolio of streaming and royalty assets.
- The presentation highlights Royal Gold's high margins, embedded growth from recent transactions, optionality from operator activities, and track record of industry-leading returns through production growth and dividend increases.
The document presents the results of a definitive feasibility study for expanding the Asanko Gold Mine's processing capacity. The expansion plan includes two modular phases: doubling processing to 5 million tonnes per year (Project 5 Million), and further doubling it to 10 million tonnes per year (Project 10 Million). Project 5 Million requires $150 million in capital and is expected to produce 230,000 ounces of gold per year at an all-in sustaining cost of $968 per ounce over a 20-year life of mine. Project 10 Million would require total expansion capital of $350 million and produce over 450,000 ounces of gold annually at $890 per ounce over an 8-year period.
1) The Brucejack high-grade gold project in British Columbia is fully-permitted and construction is underway, with commercial production targeted for 2017.
2) The mine is expected to produce over 7 million ounces of gold over an 18-year mine life at an average grade of over 15 grams per tonne and average annual production of over 500,000 ounces.
3) Construction financing of US$540 million was secured in September 2015, funding over 70% of the estimated US$746 million in capital costs.
The August 2017 Corporate Presentation provides an overview of Alamos Gold Inc. It cautions readers that certain statements in the presentation regarding forecasts, estimates, potential mineralization, and future plans and objectives are forward-looking statements that involve risks and uncertainties. It also notes that figures presented are in US dollars unless otherwise indicated, and provides information on non-GAAP measures and additional GAAP measures used. The presentation highlights Alamos Gold's diversified gold production, expanding margins, peer-leading growth portfolio, and strong balance sheet with no debt.
This document provides an overview of Detour Gold Corporation's operations and growth plans. Some key points:
- Detour Gold is a Canadian intermediate gold producer with over 16 million ounces of gold reserves and plans to produce between 540,000 to 590,000 ounces of gold in 2016.
- The company is focused on optimizing its Detour Lake mine and mill to increase production capacity while lowering costs. Plans include improving mining rates, plant throughput, and evaluating processing additional ore sources.
- Organic growth opportunities include developing the West Detour open pit in 2019 and advancing the high-grade Zone 58N deposit.
- Detour Gold aims to reduce debt and maintain a strong balance sheet to fund
Corporate presentation january 2017 v finalnewgold2011
This corporate presentation provides cautionary statements regarding forward-looking information in the document. It notes that all dollar amounts are in US dollars unless otherwise stated. It also outlines key assumptions and risk factors that could cause actual results to differ from forward-looking statements. Forward-looking statements include production guidance, resource and reserve estimates, construction timelines and costs for the Rainy River project, and other operating parameters. These statements are based on certain material assumptions regarding the business, including around political and economic conditions, commodity prices, exchange rates, costs, and permitting. However, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from expectations.
This document provides a summary of Kinross Gold Corporation's Q3 2016 results conference call. It discusses strong operational and financial performance in Q3 2016, with increased production and lower costs compared to Q2 2016. Key growth opportunities are also highlighted, including projects at Bald Mountain, Round Mountain Phase W, La Coipa Phase 7, and Tasiast's two-phased expansion. Guidance for 2016 is updated, with capital expenditures lowered to $650-675 million.
- The document contains forward-looking statements regarding the company's strategy, plans, performance, and portfolio that are subject to various risks and uncertainties.
- In 2016, the company met production and cost guidance, improved mine plans, advanced development projects, and increased cash flow and net free cash flow.
- For 2017, the company provides production and cost guidance for its mines that is in line with 2016 levels and outlines a three-year production plan with increasing gold, silver, and copper production through 2019.
- The document is Yamana Gold's first quarter report from 2017, which provides an overview of the company's performance and outlook.
- It discusses Yamana's progress on its six pillar approach, including improving operations, advancing development projects, strengthening its balance sheet, making exploration discoveries, growing its pipeline, and rationalizing non-core assets.
- Key highlights mentioned are that production and costs were better than budget in Q1, consolidated gold production guidance was increased, and significant improvements are expected in the second half of 2017 across various operations.
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.
This document is a presentation by The High Margin Precious Metals Company from December 2016. It contains cautionary statements regarding the use of forward-looking statements and notes the risks associated with relying on such statements. Readers are strongly cautioned to carefully review the risk factors contained in the presentation and in other Silver Wheaton regulatory filings.
The document provides an overview and update on Dalradian Resources Inc.'s Curraghinalt Gold Project in Northern Ireland. Some key points:
- Resources have expanded to over 4 million ounces of gold in the measured and indicated categories and over 2 million ounces in inferred. The deposit remains open.
- A feasibility study demonstrated the economic potential for developing a mine. Engineering studies showed a simple flowsheet and 94% gold recovery.
- The company raised $34 million through warrant exercises and has additional warrants that could provide up to $39 million more if exercised.
- Drilling continues to expand resources and test targets while permitting and community engagement move forward for mine development.
RBC Global Mining & Materials Conference 2017PretiumR
- Brucejack is a high-grade underground gold mine located in British Columbia that is nearing commissioning and ramping up to commercial production. It has high-grade gold reserves and is expected to have low operating costs.
- The mine has an 18-year mine life and is expected to produce over 7 million ounces of gold over its lifetime at an average annual production rate of over 400,000 ounces. It has high gold and silver recoveries from its processing facilities.
- Economic studies show strong project economics across a range of gold prices, with an after-tax IRR of over 28% and payback of less than 3.5 years at a gold price of $1,100 per ounce. Commissioning
- The document is a presentation by Wheaton Precious Metals describing their business model of precious metals streaming.
- They have a diversified portfolio of streaming agreements with operating mines and development projects around the world. This provides low-cost, long-life production of gold and silver.
- Key assets include Salobo, Peñasquito, Antamina, and Constancia, which account for the majority of their forecasted production over the next 5 years. They also discuss recent developments and exploration potential at several of these key mines.
bmo capital markets mining and metals confernce-handouts-29 feb16kirklandlakegoldinc
The document discusses Kirkland Lake Gold's plans to become an intermediate Ontario-focused gold producer through the acquisition of St. Andrew Goldfields. The combined company will have four mines and two mills producing 260,000 to 310,000 ounces of gold annually. It will benefit from operational synergies, a strong balance sheet with over $100 million in cash, and exploration potential across two historic gold camps in Ontario. Kirkland Lake Gold has an experienced management team and board of directors to lead the combined company's growth.
This document provides an overview of Alamos Gold Inc., including:
- Production guidance of 400,000-430,000 ounces of gold from three North American mines in 2017.
- AISC of $940 per ounce in 2017, a 7% improvement from 2016.
- A portfolio of 6 low-cost development projects and exploration properties that provide a platform for long-term growth.
Alamos corp presentation june 22 2017 finalalamosgoldinc
This June 2017 corporate presentation from Alamos Gold provides an overview of the company and cautions readers about forward-looking statements. It summarizes that Alamos is forecasting 2017 gold production of 400,000-430,000 ounces from its three North American mines at an all-in sustaining cost of $940 per ounce, representing a 7% improvement from 2016. It also notes that Alamos has a strong balance sheet as a debt-free company with $156 million in cash plus an undrawn $150 million credit facility to support its portfolio of six low-cost development projects and track record of delivering shareholder value.
1) The Brucejack high-grade gold project in northern British Columbia is fully funded and permitted, with construction underway and commercial production targeted for 2017.
2) The project has estimated reserves of 6.9 million ounces of gold and 26.0 million ounces of silver and a mine life of 18 years producing on average 404,000 ounces of gold annually.
3) Economics of the project show strong returns with an after-tax IRR of 27.4% and NPV of $1.55 billion using $1,100/oz gold price and all-in sustaining costs of $446/oz over its mine life.
Alamos Gold Inc. is proposing to acquire Richmont Mines Inc. via a plan of arrangement. The proposed transaction would have an implied equity value of US$770 million and position the combined company as a leading intermediate gold producer. The acquisition of Richmont's Island Gold mine in Ontario would provide Alamos shareholders with a high-quality, free cash flow generating asset in a premier jurisdiction. It would also diversify Alamos' portfolio, strengthen its financial position, and enhance its production and cost profile to support continued growth. Richmont shareholders would receive a premium for their shares and maintain exposure to Island Gold's potential through a meaningful ownership in the larger combined company.
New gold baml global metals, mining & steel conference 16 18 may 2017newgold2011
New Gold provides a corporate presentation outlining its portfolio of assets located in top-rated mining jurisdictions. The presentation cautions that statements regarding future performance are forward-looking in nature. New Gold has a diverse portfolio including operating mines and development projects with potential for 800,000 ounces of annual gold production. Key priorities for 2017 include executing on an updated plan for the Rainy River project in Ontario, Canada, advancing organic growth projects, and enhancing financial flexibility.
Richmont Mines reported its second quarter 2017 financial results. Key highlights include:
- Solid production of 31,249 ounces of gold and record low costs at the Island Gold Mine.
- Net earnings of $0.17 per share and operating cash flow of $0.39 per share.
- Cash position of $96 million, increased from prior quarter.
- Exploration success extending mineralization further down plunge at Island Gold.
- Expansion Case PEA supports increasing Island Gold production by 22% with low capital costs.
BMO Capital Markets Global Metals & Mining Conference yamanagold2016
The document provides cautionary notes regarding forward-looking statements in a presentation for a metals and mining conference. It notes that forward-looking statements involve risks and uncertainties that could cause actual results to differ from expectations. It also cautions US investors that mineral resource classifications differ between Canadian and US standards. The document outlines non-GAAP financial measures used by the company and definitions of EBITDA and EBITDA margin. It states that all dollar amounts in the presentation are in US dollars unless otherwise indicated.
Kinross Gold Corporation presented at the TD Securities 2016 Mining Conference in January 2016. The presentation focused on Kinross' principles of operational excellence, quality over quantity, disciplined capital allocation, and maintaining a strong balance sheet. It provided updates on Kinross' diversified portfolio of operating mines and organic growth opportunities, including positive pre-feasibility study results for the La Coipa Project and concepts for a phased expansion at Tasiast.
Fosterville Gold Mine continues to deliver strong production results with record quarterly production in Q2 2016. Drilling is also having success expanding known mineralized zones and identifying new targets that could extend the mine life well beyond current reserves. The company has a strong balance sheet with $69.9 million in cash and is trading at a significant discount to peers based on key valuation metrics based on 2016 forecasts.
- Kirkland Lake Gold achieved record gold production in 2016 of 314,495 ounces, surpassing guidance. Production costs were below guidance at $571 per ounce and all-in sustaining costs were below guidance at $923 per ounce.
- In 2016 the company had record revenue of $406.7 million based on gold sales of 329,489 ounces at an average realized price of $1,234 per ounce.
- The company had a strong financial position at the end of 2016 with $234.9 million in cash and $92.3 million in working capital. Cash balance increased further to $280 million in Q1 2017.
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.
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.
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
This document provides a summary of Kinross Gold Corporation's Q3 2016 results conference call. It discusses strong operational and financial performance in Q3 2016, with increased production and lower costs compared to Q2 2016. Key growth opportunities are also highlighted, including projects at Bald Mountain, Round Mountain Phase W, La Coipa Phase 7, and Tasiast's two-phased expansion. Guidance for 2016 is updated, with capital expenditures lowered to $650-675 million.
- The document contains forward-looking statements regarding the company's strategy, plans, performance, and portfolio that are subject to various risks and uncertainties.
- In 2016, the company met production and cost guidance, improved mine plans, advanced development projects, and increased cash flow and net free cash flow.
- For 2017, the company provides production and cost guidance for its mines that is in line with 2016 levels and outlines a three-year production plan with increasing gold, silver, and copper production through 2019.
- The document is Yamana Gold's first quarter report from 2017, which provides an overview of the company's performance and outlook.
- It discusses Yamana's progress on its six pillar approach, including improving operations, advancing development projects, strengthening its balance sheet, making exploration discoveries, growing its pipeline, and rationalizing non-core assets.
- Key highlights mentioned are that production and costs were better than budget in Q1, consolidated gold production guidance was increased, and significant improvements are expected in the second half of 2017 across various operations.
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.
This document is a presentation by The High Margin Precious Metals Company from December 2016. It contains cautionary statements regarding the use of forward-looking statements and notes the risks associated with relying on such statements. Readers are strongly cautioned to carefully review the risk factors contained in the presentation and in other Silver Wheaton regulatory filings.
The document provides an overview and update on Dalradian Resources Inc.'s Curraghinalt Gold Project in Northern Ireland. Some key points:
- Resources have expanded to over 4 million ounces of gold in the measured and indicated categories and over 2 million ounces in inferred. The deposit remains open.
- A feasibility study demonstrated the economic potential for developing a mine. Engineering studies showed a simple flowsheet and 94% gold recovery.
- The company raised $34 million through warrant exercises and has additional warrants that could provide up to $39 million more if exercised.
- Drilling continues to expand resources and test targets while permitting and community engagement move forward for mine development.
RBC Global Mining & Materials Conference 2017PretiumR
- Brucejack is a high-grade underground gold mine located in British Columbia that is nearing commissioning and ramping up to commercial production. It has high-grade gold reserves and is expected to have low operating costs.
- The mine has an 18-year mine life and is expected to produce over 7 million ounces of gold over its lifetime at an average annual production rate of over 400,000 ounces. It has high gold and silver recoveries from its processing facilities.
- Economic studies show strong project economics across a range of gold prices, with an after-tax IRR of over 28% and payback of less than 3.5 years at a gold price of $1,100 per ounce. Commissioning
- The document is a presentation by Wheaton Precious Metals describing their business model of precious metals streaming.
- They have a diversified portfolio of streaming agreements with operating mines and development projects around the world. This provides low-cost, long-life production of gold and silver.
- Key assets include Salobo, Peñasquito, Antamina, and Constancia, which account for the majority of their forecasted production over the next 5 years. They also discuss recent developments and exploration potential at several of these key mines.
bmo capital markets mining and metals confernce-handouts-29 feb16kirklandlakegoldinc
The document discusses Kirkland Lake Gold's plans to become an intermediate Ontario-focused gold producer through the acquisition of St. Andrew Goldfields. The combined company will have four mines and two mills producing 260,000 to 310,000 ounces of gold annually. It will benefit from operational synergies, a strong balance sheet with over $100 million in cash, and exploration potential across two historic gold camps in Ontario. Kirkland Lake Gold has an experienced management team and board of directors to lead the combined company's growth.
This document provides an overview of Alamos Gold Inc., including:
- Production guidance of 400,000-430,000 ounces of gold from three North American mines in 2017.
- AISC of $940 per ounce in 2017, a 7% improvement from 2016.
- A portfolio of 6 low-cost development projects and exploration properties that provide a platform for long-term growth.
Alamos corp presentation june 22 2017 finalalamosgoldinc
This June 2017 corporate presentation from Alamos Gold provides an overview of the company and cautions readers about forward-looking statements. It summarizes that Alamos is forecasting 2017 gold production of 400,000-430,000 ounces from its three North American mines at an all-in sustaining cost of $940 per ounce, representing a 7% improvement from 2016. It also notes that Alamos has a strong balance sheet as a debt-free company with $156 million in cash plus an undrawn $150 million credit facility to support its portfolio of six low-cost development projects and track record of delivering shareholder value.
1) The Brucejack high-grade gold project in northern British Columbia is fully funded and permitted, with construction underway and commercial production targeted for 2017.
2) The project has estimated reserves of 6.9 million ounces of gold and 26.0 million ounces of silver and a mine life of 18 years producing on average 404,000 ounces of gold annually.
3) Economics of the project show strong returns with an after-tax IRR of 27.4% and NPV of $1.55 billion using $1,100/oz gold price and all-in sustaining costs of $446/oz over its mine life.
Alamos Gold Inc. is proposing to acquire Richmont Mines Inc. via a plan of arrangement. The proposed transaction would have an implied equity value of US$770 million and position the combined company as a leading intermediate gold producer. The acquisition of Richmont's Island Gold mine in Ontario would provide Alamos shareholders with a high-quality, free cash flow generating asset in a premier jurisdiction. It would also diversify Alamos' portfolio, strengthen its financial position, and enhance its production and cost profile to support continued growth. Richmont shareholders would receive a premium for their shares and maintain exposure to Island Gold's potential through a meaningful ownership in the larger combined company.
New gold baml global metals, mining & steel conference 16 18 may 2017newgold2011
New Gold provides a corporate presentation outlining its portfolio of assets located in top-rated mining jurisdictions. The presentation cautions that statements regarding future performance are forward-looking in nature. New Gold has a diverse portfolio including operating mines and development projects with potential for 800,000 ounces of annual gold production. Key priorities for 2017 include executing on an updated plan for the Rainy River project in Ontario, Canada, advancing organic growth projects, and enhancing financial flexibility.
Richmont Mines reported its second quarter 2017 financial results. Key highlights include:
- Solid production of 31,249 ounces of gold and record low costs at the Island Gold Mine.
- Net earnings of $0.17 per share and operating cash flow of $0.39 per share.
- Cash position of $96 million, increased from prior quarter.
- Exploration success extending mineralization further down plunge at Island Gold.
- Expansion Case PEA supports increasing Island Gold production by 22% with low capital costs.
BMO Capital Markets Global Metals & Mining Conference yamanagold2016
The document provides cautionary notes regarding forward-looking statements in a presentation for a metals and mining conference. It notes that forward-looking statements involve risks and uncertainties that could cause actual results to differ from expectations. It also cautions US investors that mineral resource classifications differ between Canadian and US standards. The document outlines non-GAAP financial measures used by the company and definitions of EBITDA and EBITDA margin. It states that all dollar amounts in the presentation are in US dollars unless otherwise indicated.
Kinross Gold Corporation presented at the TD Securities 2016 Mining Conference in January 2016. The presentation focused on Kinross' principles of operational excellence, quality over quantity, disciplined capital allocation, and maintaining a strong balance sheet. It provided updates on Kinross' diversified portfolio of operating mines and organic growth opportunities, including positive pre-feasibility study results for the La Coipa Project and concepts for a phased expansion at Tasiast.
Fosterville Gold Mine continues to deliver strong production results with record quarterly production in Q2 2016. Drilling is also having success expanding known mineralized zones and identifying new targets that could extend the mine life well beyond current reserves. The company has a strong balance sheet with $69.9 million in cash and is trading at a significant discount to peers based on key valuation metrics based on 2016 forecasts.
- Kirkland Lake Gold achieved record gold production in 2016 of 314,495 ounces, surpassing guidance. Production costs were below guidance at $571 per ounce and all-in sustaining costs were below guidance at $923 per ounce.
- In 2016 the company had record revenue of $406.7 million based on gold sales of 329,489 ounces at an average realized price of $1,234 per ounce.
- The company had a strong financial position at the end of 2016 with $234.9 million in cash and $92.3 million in working capital. Cash balance increased further to $280 million in Q1 2017.
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.
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.
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 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.
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.
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.
- 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.
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.
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 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.
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.
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.
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.
- 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 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.
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.
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.
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 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.
The document provides supplemental information for Agnico Eagle Mines in May 2021. It discusses the company's operating mines across Canada, Finland, and Mexico which are expected to produce around 850,000 ounces of gold per year in the Abitibi region. Exploration plans are outlined to extend mine life at operations like LaRonde, Goldex, and Kittila. The acquisition of TMAC Resources and its Hope Bay mine in Nunavut is also summarized, which could potentially produce 250,000-300,000 ounces annually starting in 2024.
- 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.
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.
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.
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 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
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.
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.
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.
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.
Raymond James Institutional Investors Conference OrlandoAgnico Eagle Mines
The document provides forward-looking statements and notes regarding non-GAAP financial measures for Agnico Eagle Mines Limited. It summarizes Agnico Eagle's fourth quarter and full year 2015 operating results, including record annual gold production of 1.671 million ounces at total cash costs of $567 per ounce. It also outlines Agnico Eagle's strategic plan for 2016 and beyond, focusing on optimizing existing mines and projects, delivering on expectations, building a project pipeline, and developing people. The company aims to improve its cost structure, increase reserve quality, and maximize free cash flow per share.
- 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.
- 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.
- 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.
2. AGNICO EAGLE | CORPORATE UPDATE | 2
Forward Looking Statements
The information in this presentation has been prepared as at November 1, 2016. Certain statements contained in this presentation 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 presentation, the words “anticipate”, “could”,
“estimate”, “expect”, “forecast”, “future”, “plan”, “potential”, “will” 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,
life of mine estimates, production, total cash costs per ounce, all-in sustaining costs per ounce, minesite costs per tonne, other expenses 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, optimization and projected exploration expenditures, including costs and other estimates upon which such projections are
based; statements regarding timing and amounts of capital expenditures and other assumptions; estimates of future mineral reserves, mineral resources, mineral
production, optimization efforts and sales; estimates of mine life; estimates of future capital expenditures and other cash needs, and expectations as to the funding
thereof; statements 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 mineral reserves and mineral resources; statements regarding the Company’s ability to obtain the necessary permits and authorizations in connection with its
exploration, development and mining operations and the anticipated timing thereof; and statements regarding anticipated future exploration; the anticipated timing of
events with respect to the Company’s mine sites and statements regarding the sufficiency of the Company’s cash resources and other statements regarding
anticipated trends with respect to the Company's operations, exploration and the funding thereof. Such statements reflect the Company’s views as at the date of
this presentation and are subject to certain risks, uncertainties and assumptions, and undue reliance should not be placed on such statements. 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, 2015 filed with Canadian
securities regulators and that are included in its Annual Report on Form 40-F for the year ended December 31, 2015 (“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, development and expansion
at each of Agnico Eagle's properties proceeds on a basis consistent with current expectations and plans; that the relevant metal 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. 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, project development, capital expenditures and other costs; exchange rate 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 currency, fuel and 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 presentation, 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. Other than as required by law, the Company does not
intend, and does not assume any obligation, to update these forward-looking statements.
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”, “all-in sustaining costs per ounce”, “minesite costs per tonne” and “net debt” that are not
standardized measures under IFRS. These data may not be comparable to data reported by other issuers. For a reconciliation of these measures to the most directly comparable
financial information reported in the consolidated financial statements prepared in accordance with and for an explanation of how management uses these measures, see “Non-
GAAP Financial Performance Measures” in the MD&A filed on SEDAR at www.sedar.com and included in the Form 6-K filed on EDGAR at www.sec.gov, as well as the Company’s
other filings with the Canadian securities regulators and the SEC. The total cash costs per ounce of gold produced is reported on both a by-product basis (deducting by-product
metal revenues from production costs) and co-product basis (before by-product metal revenues). The 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 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. The total cash costs per ounce of gold produced on a co-
product basis is calculated in the same manner as the total cash costs per ounce of gold produced on a by-product basis except that no adjustment is made for by-product metal
revenues. 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. The 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 costs 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. All-in sustaining costs per ounce is used to show the full cost of gold production from current operations. The Company calculates all-
in sustaining costs per ounce of gold produced on a by-product basis as the aggregate of total cash costs per ounce on a by-product basis, sustaining capital expenditures
(including capitalized exploration), general and administrative expenses (including stock options) and reclamation expenses divided by the number of ounces of gold produced. The
all-in sustaining costs per ounce of gold produced on a co-product basis is calculated in the same manner as the all-in sustaining costs per ounce of gold produced on a by-product
basis, except that the total cash costs per ounce on a co-product basis is used, meaning no adjustment is made for by-product metal revenues. The Company's methodology for
calculating all-in sustaining costs per ounce may differ from to the methodology used by other producers that disclose all-in sustaining costs per ounce. The Company may change
the methodology it uses to calculate all-in sustaining costs per ounce in the future, including in response to the adoption of formal industry guidance regarding this measure by the
World Gold Council. Management is aware that these per ounce measures of performance can be affected by fluctuations in 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. Minesite costs per tonne are calculated by adjusting production costs as shown
in the interim condensed consolidated statements of income for unsold concentrate inventory production costs, and then dividing by tonnes of ore processed. As the total cash
costs per ounce of gold produced can be affected by fluctuations in by-product metal prices and exchange rates, management believes that the minesite costs per tonne provides
additional information regarding the performance of mining operations, eliminating the impact of varying production levels. Management also uses this measure to determine the
economic viability of mining blocks. As each mining block is evaluated based on the net realizable value of each tonne mined, in order to be economically viable the estimated
revenue on a per tonne basis must be in excess of the minesite costs per tonne. Management is aware that this per tonne measure of performance can be impacted by fluctuations
in processing levels and compensates for this inherent limitation by using this measure in conjunction with production costs prepared in accordance with IFRS. Net debt is
calculated by adjusting the total of the current portion of long-term debt and non-current long-term debt as recorded on the consolidated balance sheet for deferred financing costs,
cash and cash equivalents and short-term investments. Management uses net debt to determine the overall debt position and to evaluate future debt capacity of the Company.
Management also performs sensitivity analyses in order to quantify the effects of fluctuating exchange rates and metal prices.
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 mineral reserve estimates. These factors and others mean that the gold production guidance presented in this presentation does not reconcile exactly with the
production models used to support these mineral reserves.
Currency
All amounts in this presentation are expressed in U.S. dollars except as otherwise noted.
4. AGNICO EAGLE | CORPORATE UPDATE | 4
Consistent Strategy and Solid Execution Drives Superior per Share
Returns
Production Growth – Existing Asset Base has Potential to Produce
Approximately 2.0 Mozs of Gold in 2020
High Quality Gold Reserves – Average Gold Grade more than Double the
North American Peers
Exploration Delivering on Several Fronts - Remains a Key Value Driver
Strong Balance Sheet with Enhanced Financial Flexibility
34 Years of Consecutive Dividends
Agnico Eagle – A High Quality Gold Mining Business
5. AGNICO EAGLE | CORPORATE UPDATE | 5
9%
6%
2%
1%
0%
-4%
-5%
-6% -7%
6%
0%
-2%
-4% -4%
-7%
-10%
-13%
-11%
-15%
-10%
-5%
0%
5%
10%
Agnico Eagle Eldorado Goldcorp Yamana Industry
Average
Newmont Barrick IAMGOLD Kinross
Compound Annual Growth Rate (2005 – 2015)
NAVPS Share Price
Source: Scotia Global Banking and Markets, Bloomberg
Long Term Focus on per Share Value Creation
Agnico Eagle’s Strategy Delivers Superior NAV Growth per Share
6. AGNICO EAGLE | CORPORATE UPDATE | 6
Successful M&A and Exploration Strategy
Significant Value Added, Key Deposits Still Open and Positioned to Deliver More Value
Detailed information on mineral reserves and mineral resources can be found in the February 10, 2016 press release
Kittila
2005 2015
Mined through 2015 (koz) Proven & Probable (koz) Measured & Indicated (koz) Inferred (koz) Cost per Oz ($)
$54
$19
Purchase Discovery
2,800 koz
8,863 koz
+217%
Meadowbank
(Including Amaruq)
2007 2015
$173
$28
Purchase Discovery
3,830 koz
7,693 koz
+101%
Meliadine
2010 2015
$121
$27
Purchase Discovery
5,020 koz
10,276 koz
+105%
Pinos Altos
2006 2015
$43 $46
Purchase Discovery
2,100 koz
4,133 koz
+97%
La India
2011 2015
$186
$16
Purchase Discovery
1,266 koz
3,095 koz
+144%
7. AGNICO EAGLE | CORPORATE UPDATE | 7
1,025
1,060
1,400
1,650
>1,600*
1,044
1,099
1,429
1,671
$660
$690
$663
$600
$600**
$640
$672
$637
$567
$500
$550
$600
$650
$700
$750
$800
900
1,000
1,100
1,200
1,300
1,400
1,500
1,600
1,700
2012 2013 2014 2015 2016
TotalCashCostsperOunce
GoldOunces(inThousands)
Production Guidance Production Actual Cost Guidance Cost Actual
Solid Track Record of Meeting Expectations
Guidance Exceeded for Four Consecutive Years
*Upper-end of estimated 2016 production guidance
**Approximate mid-point of estimated 2016 cash costs guidance
8. AGNICO EAGLE | CORPORATE UPDATE | 8
Operating Results
Continued Strong Operational Performance Yields Solid Operating Margins
Q3 2016 Total Operating Margin – $333.5MQ3 2016 Revenue by Metal
LaRonde, 19%
Pinos Altos, 18%
Canadian
Malartic, 17%Meadowbank,
14%
Kittila, 11%
Goldex, 8%
La India, 7%
Creston Mascota,
3%
Lapa, 3%
*Total cash costs per ounce are presented on a by-product basis, that is net of by-product revenue
Gold, 95%
Silver, 4%
Base
Metals, 1%
Q3 2016 Q3 YTD 2016
Production
(Gold oz)
Total Cash Cost*
($/oz)
Operating Margin
($000’s)
Production
(Gold oz)
Total Cash Cost*
($/oz)
Northern Business
LaRonde 71,784 $541 $61,587 222,280 $537
Lapa 16,242 $743 $10,181 59,865 $684
Goldex 32,742 $483 $27,834 96,534 $501
Canadian Malartic (50%) 76,428 $613 $55,981 222,543 $597
Kittila 54,835 $663 $36,714 149,171 $712
Meadowbank 72,731 $746 $46,190 217,444 $774
324,762 $629 $238,487 967,837 $638
Southern Business
Pinos Altos 48,512 $343 $60,699 146,087 $345
Creston Mascota 12,134 $493 $10,448 36,083 $474
La India 30,779 $400 $23,858 86,448 $381
91,425 $382 $95,005 268,618 $375
Total 416,187 $575 $333,492 1,236,455 $580
9. AGNICO EAGLE | CORPORATE UPDATE | 9
High Quality Gold Reserves
Higher Grade Mineral Reserves Drive Production Growth
19.1 Mozs of gold (251 million tonnes of ore grading 2.37 g/t gold) calculated using gold price of $1,100
Mineral Reserve sensitivity: A $100 per ounce move in the gold price (all other assumptions unchanged)
results in approximately a 5.4% change in mineral reserves
Measured and indicated mineral resources - 15.0 Mozs of gold (309 million tonnes grading 1.52 g/t
gold)
Inferred mineral resources -16.5 Mozs of gold (230 million tonnes grading 2.24 g/t gold)
Mineral reserves grade more than double the average grade of North American peer companies
*For a detailed breakdown of Agnico Eagle’s mineral reserve and mineral resource position see the Company’s press release dated February 10, 2016
Source: Company reportsSource: Company reports, Barclays Research
2.37
1.40 1.32 1.22
1.08 1.06 1.06
0.70 0.63
0
1
2
3
AEM
IAG
ABX
EGO
AVERAGE
NEM
GG
KGC
AUY
Mineral Reserve Grade (g/t)
-22%
-11% -9%
0%
21%
29%
32%
35%
44%
-30%
-20%
-10%
0%
10%
20%
30%
40%
50%
AEM IAG NGD KGC AUY GG NEM ABX EGO
5-Year Difference Between Production and
Mineral Reserve Grade
10. AGNICO EAGLE | CORPORATE UPDATE | 10
2016E 2017E 2018E 2019 and Beyond
Payable Gold Production Profile
*Upper-end of estimated 2016 production guidance
>1,600,000* 1,555,000
1,500,000
M e l i a d i n e
A m a r u q
E l B a r q u e n o
L a R o n d e I I I
K i t t i l a
G o l d e x D e e p 2
Project Pipeline Expected to Drive Next Phase of Production Growth
Potential to Produce Approximately 2.0 Million Ounces of Gold in 2020
11. AGNICO EAGLE | CORPORATE UPDATE | 11
Strong Exploration/Development Pipeline Supports Future Growth
Nunavut Platform –
Meliadine & Amaruq
Brownfield Opportunities In
All Operating Regions
Advanced Exploration Approaching Development
Mine Site –
Expansion/Optimization
*50% AEM Ownership
**55% AEM Ownership
Upper Beaver*
Hammond Reef*
El Barqueño
Barsele**
Long Term Near Term
12. AGNICO EAGLE | CORPORATE UPDATE | 12
Financial Position
Increased Cash Position Reduces Net Debt
Strong Available Liquidity - $1.8B*
Long-term Debt Maturities
*As at September 30, 2016, excluding accordion
$588 million of net debt as of
September 30, 2016
Cash and cash equivalents and short
term investments totalled $627.4
million as at September 30, 2016
Manageable debt repayment schedule
Low share count of 228 million fully
diluted after 59 years of operating
history
C$20
US$115
US$360
US$225
US$100US$100
US$50
US$200
US$50
$0
$50
$100
$150
$200
$250
$300
$350
$400
2017 2020 2022 2023 2024 2025 2026 2028
CAD USD
$627
$1,200
Cash and cash equivalents Undrawn credit facilities
13. AGNICO EAGLE | CORPORATE UPDATE | 13
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
InThousandsof$US
Cumulative
Dividends of:
~$685M
Long History of Dividend Payments to Shareholders
34 Years of Consecutive Annual Dividends
14. AGNICO EAGLE | CORPORATE UPDATE | 14
AEM US Equity XAU IndexGold Spot
AEM US Equity
CAGR
15.39%
Gold Spot CAGR
8.61%
XAU Index CAGR
1.90%
Superior Share Performance Since 1998
Agnico Eagle has Consistently Outperformed Gold and Gold Equities
Source: Bloomberg – October 31, 2016
10%
100%
1000%
10000%
16. AGNICO EAGLE | CORPORATE UPDATE | 16
Agnico Eagle in Nunavut
Large and Expanding Land Position Totalling 438,335 Ha Covering 3 Major Geological Belts
Major Assets:
■ Meadowbank
2007 Acquired Cumberland Resources Ltd.
Production since 2010
■ Amaruq
2013 Exploration Discovery
Satellite Deposit – Approaching Development
■ Meliadine
2010 Acquired Comaplex Mineral Corp.
Approaching Development
Detailed information on mineral reserves and mineral resources can be found in the February 10, 2016 and September 15, 2016 press releases
17. AGNICO EAGLE | CORPORATE UPDATE | 17
Amaruq Project
Whale Tail Drilling Hits Mineralization at a Depth of 732 Metres; Deepest Intersection to Date
18. AGNICO EAGLE | CORPORATE UPDATE | 18
Combined Open Pit and Underground Potential
Amaruq Resources – As of June 30, 2016
Detailed information on mineral resources can be found in the September 15, 2016 Press Release
MRMR
(June 30, 2016)
Tonnes
(000’s)
Au
grade
(g/t)
Au
(000’s
oz)
Open Pit 13,626 5.53 2,423
Underground 5,738 7.00 1,292
Total Inferred
Resource
19,364 5.97 3,714
19. AGNICO EAGLE | CORPORATE UPDATE | 19
Meliadine Development Project
Current Focus on Optimization of the Resource Base and Potential Production Scenarios
Proven and probable gold reserves: 3.42 million ounces (14.5 million tonnes grading 7.32 g/t Au)
Indicated gold resources: 3.31 million ounces (20.8 million tonnes grading 4.95 g/t Au)
Inferred gold resources: 3.55 million ounces (14.7 million tonnes grading 7.51 g/t Au)
For additional details on Meliadine mineral reserves and mineral resources see Presentation Appendix and AEM February 10, 2016 press release
20. AGNICO EAGLE | CORPORATE UPDATE | 20
Meliadine Regional Exploration Potential
Numerous Gold Occurrences Remain to be Drilled Over 80km Geological Belt
21. AGNICO EAGLE | CORPORATE UPDATE | 21
LaRonde Extension and Bousquet Zone 5
Potential to Provide Future Production Optionality
Increased production forecasts through 2018 reflect grades closer to that of the mineral reserves
Work is ongoing to assess the potential to extend mineral reserves and mine between 311 and 371 levels (a depth of
3.1 to 3.7km)
An internal technical study to evaluate the potential to initially mine the Bousquet Zone 5 from a depth of 90 to 330
metres via an underground ramp is expected to be completed by the end of 2016.
22. AGNICO EAGLE | CORPORATE UPDATE | 22
Goldex Deep 1
Mine Life Extended from 2018 to 2024
Deep 1 mining area includes lower part of
the Dx zone and top of the D zone
Estimated annual production >100,000
ounces at an average total cash cost of
~$620 per ounce
Advancement of Deep 1 has potential to
unlock other value creating opportunities:
Potential to increase mill throughput
Potential for additional mineral resource
conversion in Deep 1
Potential for mining at Deep 2 (below Level
120)
Potential to develop the Akasaba West
deposit
23. AGNICO EAGLE | CORPORATE UPDATE | 23
Kittila
Drilling Continues to Infill and Extend Mineralization in the Sisar Zone
Inferred resources at
Sisar are estimated at
651,000 ounces of gold
(3.4 million tonnes at
5.91 g/t gold)
24. AGNICO EAGLE | CORPORATE UPDATE | 24
Barsele
Q3 2016 Drilling Extends Central and Avan Zones
Drilling identified a
new gold trend at
depth in the Avan
Zone. Highlights
include: 2.22 g/t gold
over 19.5 metres at
250 metres depth in
hole AVA16-005
Recent drilling has
also extended the
Central Zone
approximately 175
metres to the
northwest. Results
include: 1.11 g/t gold
over 100.5 metres at
440 metres depth,
including 2.41 g/t gold
over 29.3 metres in
hole CNT16-002
25. AGNICO EAGLE | CORPORATE UPDATE | 25
EL
COCHI
INDIA
ESTE
LA INDIA
EL
REALITO
MAIN ZONE
Key target areas to be drill tested include El Realito, El Cochi and La India Este
An initial drill program is underway at the El Realito property
La India Exploration Potential
Several Near-Mine Targets Being Evaluated in 2016
26. AGNICO EAGLE | CORPORATE UPDATE | 26
Drilling Outlines Socorro Vein at Olmeca Along 1,000 Metre Strike Length
Q3 2016, exploration was
focused on extending the
Olmeca zone and testing
other targets
Two vein structures,
Socorro and Mortero,
have been outlined at the
Olmeca zone. Socorro
structure has been traced
along strike for up to 1.0
km. Results include: 5.3
g/t gold and 13.2 g/t
silver over 9.2 metres
(including 10.9 g/t gold
and 16.9 g/t silver over
4.2 metres)
Pena de Oro structure
extended 250 metres to
the northeast. Results
include up to 5.8 g/t gold
and 5.1 g/t silver over
13.7 metres
El Barqueno Project
El Barqueno contains an initial total inferred mineral resource of 0.61 Mozs of gold
and 3.7 Mozs of silver (19.7 million tonnes grading 0.96 g/t gold and 5.78 g/t silver)
See AEM February 10, 2016 press release and appendix for detailed breakdown of mineral reserves and mineral resources
28. AGNICO EAGLE | CORPORATE UPDATE | 28
PRODUCTION Q3 YTD 2016 PRODUCTION HIGHLIGHTS
LaRonde 222,280 ozs
at total cash costs of $537/oz
Higher grades processed helped drive strong production and cost
performance in Q3 2016
Exploration and studies are continuing to assess the potential to extend
the mineral reserves and carry out mining activities between the 311 and
371 levels
At Bousquet Zone 5, 412 metres of underground development was
completed and a temporary vent raise was developed which is planned to
be commissioned in the fourth quarter of 2016
Internal technical studies on Bousquet Zone 5 are ongoing with completion
expected by the end 2016. Following the completion of technical studies
and permitting, Bousquet Zone 5 could potentially be in production in the
second half of 2018
Canadian
Malartic GP (50%) 222,543 ozs
at total cash costs of $597/oz
Following public hearings in June and July 2016, permitting of the
Canadian Malartic extension project and Highway 117 deviation reached
an important milestone with the issue of the BAPE report on October 5,
2016. The report concluded that the project is acceptable and provides
several recommendations intended to enhance social acceptability
The extension project is now awaiting formal government approval, and
the Partnership anticipates that this may occur in the first half of 2017
In Q3 2016, a total of 56 drill holes (40,019 metres) were completed at the
Odyssey prospect and results are being evaluated. Drilling will continue
through year-end, at which time an inferred mineral resource is expected
be calculated for the project
Goldex 96,534 ozs
at total cash costs of $501/oz
Higher throughput in the 2016 period was due to better underground
hoisting performance and acceleration of the mining sequence
Development of the Deep 1 Zone remains on time and on budget for
startup in the first quarter of 2018. In Q3 2016, the first segment of the
Rail-Veyor (conveyor system) ramp was completed and construction of the
120 level loading station and excavation of the 115 level rock hammer
room are now in progress
Permitting of the Akasaba project is progressing at both the provincial and
federal levels
Lapa 59,865 ozs
at total cash costs of $684/oz
Production was expected to show a gradual decline moving into Q4 2016.
Production is now forecast to continue through year-end 2016. The
Company is also evaluating additional target zones at depth and a number
of lower grade zones that had been previously been excluded from the
mine plan. Should this work yield favourable results, production could
potentially be extended into 2017
Abitibi Region
Solid and Growing Production Base in Quebec
29. AGNICO EAGLE | CORPORATE UPDATE | 29
EXPLORATION AND DEVELOPMENT HIGHLIGHTS
Meliadine
In Q3 2016, approximately 937 metres of underground development were completed and YTD development has
reached 3,124 metres. Approximately 4,300 metres of underground development is planned in 2016
Internal technical studies are continuing with the goal of optimizing the project for potential production start-up in
2020. These studies are expected to be completed by the end of 2016
In May 2016, the Type A Water Licence was received, which is the final permit needed to commence construction
activities. Timing of future capital expenditures beyond 2016 and the determination of whether to build a mine at
Meliadine are subject to approval by Agnico Eagle's Board of Directors
Amaruq*
Year-to-date, approximately 15.7 km of the Amaruq Exploration Access Road has been completed. The 64 km
long road is expected to be completed in the fourth quarter of 2017
In September, the Company reported a 13% increase in inferred mineral resources at Amaruq to 3.7 million
ounces. This resource included a 33% increase in open pit resources to 2.4 million ounces, and a second
potential source of open pit ore was confirmed at the V Zone
Recent drilling at the Whale Tail deposit has now extended mineralization at depth. Drill hole AMQ16-1045
intersected 5.4 g/t gold over 3.3 metres at 658 metres depth and 5.5 g/t gold over 16.1 metres at 725 metres
depth, including 13.1 g/t gold over 3.5 metres at 732 metres depth
Nunavut
Arctic Platform Continues to Build Critical Mass
PRODUCTION Q3 YTD 2016 PRODUCTION HIGHLIGHTS
Meadowbank 217,444 ozs
at total cash costs of $774/oz
Studies are underway to investigate opportunities to extend production at
Meadowbank through year-end 2018. Potential opportunities include the
development of the Phaser pit, located to the southwest of the Vault pit,
and an additional pushback to access additional ore in the E3 pit at the
Portage deposit
*For additional details on the updated Amaruq mineral resource see AEM September 15, 2016 press release for detailed breakdown of
mineral resources
30. AGNICO EAGLE | CORPORATE UPDATE | 30
EXPLORATION AND DEVELOPMENT HIGHLIGHTS
Rimpi
Development
Previous drilling on the Rimpi Zone has outlined a significant zone of mineralization with potentially wider widths
and better grades than those currently being mined at Kittilä
Main underground ramp at Kittilä is being extended to reach the Rimpi Zone at depth and facilitate further
exploration. In addition, a surface ramp is being driven into the Rimpi Zone for production purposes and to provide
a second egress for the Suuri ramp system
New Parallel
Sisar Zone
Infill drilling in Q3 2016 yielded the widest intercept to date in the Sisar Central Zone. Hole ROD16-702D returned
6.6 g/t gold over 12.7 metres at 1,303 metres depth
Underground development to access the upper portion of the Sisar Zone continued during Q3 2016. The Sisar
zone is located approximately 150 to 200 metres from existing underground infrastructure
Barsele Project
Sweden
Agnico Eagle holds a 55% interest in the project with an option to go to 70%. The property contains intrusive-
hosted gold mineralization (similar to Goldex) and gold-rich volcanogenic massive sulphide mineralization (similar
to LaRonde). In 2016, the Company plans to spend approximately $7.5 million on exploration to further evaluate
the mineral potential of the property including 36,000 metres of diamond drilling
Finland and Sweden
Reviewing Opportunities to Increase Kittila Production, New Sisar Zone Provides Additional
Optionality
PRODUCTION Q3 YTD 2016 PRODUCTION HIGHLIGHTS
Kittila 96,534 ozs
at total cash costs of $501/oz
Studies are continuing to optimize underground mining rates and fully
integrate the upper and lower Rimpi zones and the newly discovered
Sisar Zone in a new Kittila mine plan
31. AGNICO EAGLE | CORPORATE UPDATE | 31
PRODUCTION Q3 YTD 2016 PRODUCTION HIGHLIGHTS
Pinos Altos 146,087 ozs
at total cash costs of $345/oz
The Pinos Altos shaft project was completed and commissioned for
hoisting in mid-June. Ramp up to the design capacity of 6,000 tpd was
successfully completed in July, as planned
The shaft completion will allow better matching of the mill capacity with
the future mining capacity at Pinos Altos once the open pit mining
operation begins to wind down as planned over the next several years
Creston
Mascota
36,083 ozs
at total cash costs of $474/oz
Rough earthworks for the Phase 4 heap leach pad are nearing
completion, and liner installation has commenced. Electrical power line
construction for the substation and pumping system is also in process
During the third quarter of 2016, approximately 4,000 metres of drilling
was carried out on the Madrono property and approximately 1,600
metres of drilling was completed on the Bravo zone. Results from both of
these properties are currently being compiled and evaluated
Several new targets were also generated near Creston Mascota (Molino,
Confianza and Santa Ana). Drill testing of these new targets is expected
to commence in the coming months once permits are received
La India 86,448 ozs
at total cash costs of $381/oz
Gold production at La India in Q3 2016 was a new quarterly record.
Production was positively impacted by increased tonnage stacked,
partially offset by lower grades
During Q3 2016, mine site exploration drilling continued. Favourable
results continue to be obtained from the Main Zone, which could have a
positive impact on the year-end mineral reserves and mineral resources
at La India
Step out drilling also commenced during the quarter at El Realito with
initial encouraging results
Mexico
Continued Low Operating Costs and Record Silver Production in Q3 2016
EXPLORATION AND DEVELOPMENT HIGHLIGHTS
El Barqueño
2016 Exploration focus on mineral resource development, conversion and regional exploration.
Q3 2016, exploration was focused on extending the Olmeca zone and testing other targets
Two vein structures, Socorro and Mortero, have been outlined at the Olmeca zone. Socorro structure has been
traced along strike for up to 1.0 km. Results include: 5.3 g/t gold and 13.2 g/t silver over 9.2 metres (including 10.9
g/t gold and 16.9 g/t silver over 4.2 metres)
Pena de Oro structure extended 250 metres to the northeast. Results include up to 5.8 g/t gold and 5.1 g/t silver
over 13.7 metres
37. AGNICO EAGLE | CORPORATE UPDATE | 37
Notes to Investors Regarding
The Use of Mineral Resources
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This document uses the terms “measured mineral resources” and “indicated mineral 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
mineral reserves.
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This document also uses the term “inferred mineral resources”. Investors are advised that while this term is recognized and required by Canadian regulations, the SEC does not
recognize it. “Inferred mineral 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 mineral 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 reports mineral resource and mineral reserve estimates in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum
Best Practice Guidelines for Exploration and for Estimation of Mineral Resources and Mineral 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 "mineral reserve" unless the
determination has been made that the mineralization could be economically and legally produced or extracted at the time the mineral reserve determination is made. A "final" or
"bankable" feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7. 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.
In prior periods, mineral 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 mineral 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 reserve estimates at all mines and advanced projects as of December 31, 2015 (other than the Canadian Malartic mine), reported by
the Company on February 10, 2016 and September 15, 2016, are $1,100 per ounce gold, $16.00 per ounce silver, $0.90 per pound zinc, $2.50 per pound copper, and US$/C$,
Euro/US$ and US$/MXP exchange rates for all mines and projects other than the Lapa, Meadowbank and Creston Mascota mines and Santo Niño open pit at Pinos Altos of 1.16, 1.20
and 14.00, respectively. Due to shorter mine life, the assumptions used for the mineral reserve estimates at the short-life mines (the Lapa, Meadowbank and Creston Mascota mines
and Santo Niño open pit) as of December 31, 2015, reported by the Company on February 10, 2016, include the same metal price assumptions, and US$/C$ and US$/MXP exchange
rates of 1.30 and 16.00, respectively. The assumptions used for the mineral reserves estimate at the Canadian Malartic mine as of December 31, 2015, reported by the Company on
February 10, 2016, are $1,150 per ounce gold, a cut-off grade between 0.30 g/t and 0.33 g/t gold (depending on the deposit) and a US$/C$ exchange rate of 1.24.
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of "proven mineral reserves”, "probable mineral reserves”, "measured
mineral resources”, "indicated mineral resources” and "inferred mineral resources”. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
38. AGNICO EAGLE | CORPORATE UPDATE | 38
Notes to Investors Regarding
The Use of Mineral 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 mineral 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 mineral reserve estimates in this presentation is December 31, 2015 (other than the Amaruq Project). The effective
date for the Amaruq Project mineral resource estimate in this presentation is June 30, 2016. 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 filed by Agnico Eagle, 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 mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approved
by Daniel Doucet, Eng., Senior Corporate Director, Reserve Development; and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein has
been approved by Donald Gervais, P.Geo., Director of Technical Services at Canadian Malartic Corporation. Each of them is a "Qualified Person" for the purposes of NI 43-101.