AGNICO EAGLE REPORTS SECOND QUARTER 2022 RESULTS - STRONG OPERATIONAL PERFORMANCE DRIVES RECORD QUARTERLY GOLD PRODUCTION; PRODUCTION AND COST GUIDANCE REITERATED FOR 2022; UPDATED DETOUR LAKE MINE PLAN BASED ON 38% INCREASE IN MINERAL RESERVES NEWS PROVIDED BY
Agnico Eagle Mines Limited Jul 27, 2022, 17:00 ET
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Stock Symbol: AEM (NYSE and TSX)
(All amounts expressed in U.S. dollars unless otherwise noted)
TORONTO, July 27, 2022 /PRNewswire/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle" or the "Company") today reported financial and operating results for the second quarter of 2022.
Second quarter of 2022 highlights: Record gold production and strong earnings and cash flow generation in the second quarter of 2022 – Payable gold production1 in the second quarter of 2022 was 858,170 ounces at production costs per ounce of $766, total cash costs per ounce2 of $726 and all-in sustaining costs ("AISC") per ounce3 of $1,026. These results include the first full quarter of production following the completion of the merger between Agnico Eagle and Kirkland Lake Gold Ltd. ("Kirkland Lake Gold") on February 8, 2022 (the "Merger"). For the second quarter of 2022, the Company reported quarterly net income of $0.61 per share, with adjusted net income4 of $0.76 per share. Operating cash flow was of $1.39 per share
AGNICO EAGLE PROVIDES AN UPDATE ON YEAR-TO-DATE EXPLORATION RESULTS: DETOUR LAKE RETURNING HIGH GRADE INTERCEPTS UP TO 2 KM AWAY FROM CURRENT OPEN PIT; EAST GOULDIE DELIVERING SOLID INFILL CONVERSION RESULTS AND STEP-OUT DRILLING TO THE EAST AND WEST; HOPE August 11 2022 - 05:00PM PR Newswire (US)
bigone yes AEM looking good and I am O.K. hope all well with you -
AEM Extremely cheap
Headwinds of rising interest rates and strong USD this past year. Compressed valuation. Go-to name in the sector. No geopolitical risk. Merger added value. Decent profile going forward. USD should come off its peaks, and this should be good for gold and commodities. Yield is 3.68%.
Long Dr Agnico Eagle
AGNICO EAGLE PROVIDES AN UPDATE ON YEAR-TO-DATE EXPLORATION RESULTS: DETOUR LAKE RETURNING HIGH GRADE INTERCEPTS UP TO 2 KM AWAY FROM CURRENT OPEN PIT; EAST GOULDIE DELIVERING SOLID INFILL CONVERSION RESULTS AND STEP-OUT DRILLING TO THE EAST AND WEST; HOPE August 11 2022 - 05:00PM PR Newswire (US)