Agnico Eagle Mines Ltd (AEM)

[Sam Dan]

Two matters of interest for AEM
1st-"Agnico Eagle Mines (NYSE:AEM) names former Barrick Gold CFO Ammar Al-Joundi as its new president, grooming him as a potential CEO.Al-Joundi had been AEM's CFO for about two years until June 2012 when he joined ABX; prior to joining AEM in Sept. 2010, he spent 11 years at ABX in various senior financial positions.
2nd-"The Financial Post reports in its Friday edition that RBC Global Asset Management manager Chris Beer In precious metals, the manager's largest weights tend to be in lower-cost companies with strong balance sheets and growing production. This includes Agnico Eagle Mines ($36.27), which has about 60 per cent of its operations in Canada, and Goldcorp ($23.85), which is about 40 per cent. Since their costs are in Canadian dollars and they are selling in U.S. dollars, he estimates that currency moves and oil's price decline probably save these miners $150 to $200 an ounce, which is almost a 10-per-cent margin increase."
I have always maintained the Canadian listing of AEM is a great hedge against the falling Canadian vs. USA.